3 Smart Reasons to Get a Home Equity Line of Credit

December 12, 2018

Have you been thinking about taking out a home equity line of credit (HELOC)? A HELOC is revolving line of credit that uses your home as collateral.

Because a HELOC is a line of credit, it may be easier to qualify for than something that’s unsecured, like a personal line of credit.

A secured line of credit means that if you default by not making payments, your lender is able to use the collateral (aka security) to recoup their money. In the case of a HELOC, your home could be seized and sold to repay the monies owed.

Save for Christmas FI

3 Things You Should NEVER do to Pay for Christmas

December 8, 2018

Christmas is not a surprise.

It comes around every year like clock work. It’s always on December 25th. There’s no getting around that.

This time of year I always get a little mad pissed off when I hear about the irresponsibility of some people. There’s only a few weeks left and they haven’t saved for Christmas.

There’s still a little time to earn some extra money. Or you could sacrifice something to help save for Christmas, like taking some time off from eating out. But, there also some things you should NOT do to pay for Christmas.

Why I’m Not in a Hurry to Pay Off My Car Loan

December 7, 2018

Call me a bad personal finance blogger, but I’m not in that big of a hurry to pay off my car loan.

A couple of months ago I finishing paying off my student loans, and I’ve been credit card debt free for over a year now. All that’s left to pay off is my car loan and my new home mortgage.

If I applied the same intensity to my car loan that I used for some of my other financial goals, I could probably have it paid off in under a year. But I’m not going to.

Here’s why.