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Dec 30th, 2023
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 Financial gurus
#15192699
09/17/24 12:16 AM
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Joined: Oct 2006
Posts: 104,550
Bigbob_FTW
OP
Big Sprocket Bob
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OP
Big Sprocket Bob
Joined: Oct 2006
Posts: 104,550 |
House is paid for, time to do some fixing up. Need a new tub/shower and a new fence. Should I look at a personal loan or a home equity line of credit? Pros and cons of each.
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Re: Financial gurus
[Re: Bigbob_FTW]
#15192702
09/17/24 12:20 AM
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Joined: Feb 2014
Posts: 9,625
Smurfs
TFF Celebrity
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TFF Celebrity
Joined: Feb 2014
Posts: 9,625 |
save your house payment for 6 month, year and pay cash, one project at a time 
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Re: Financial gurus
[Re: Smurfs]
#15192707
09/17/24 12:37 AM
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Joined: Aug 2014
Posts: 7,601
Beer Money
TFF Celebrity
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TFF Celebrity
Joined: Aug 2014
Posts: 7,601 |
save your house payment for 6 month, year and pay cash, one project at a time This. Why get out of debt on your house and jump right back into it?
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Re: Financial gurus
[Re: Bigbob_FTW]
#15192709
09/17/24 12:38 AM
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Joined: Jun 2020
Posts: 16,308
grandbassslayer
TFF Guru
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TFF Guru
Joined: Jun 2020
Posts: 16,308 |
I’d save and pay for the tub first then the fence. If you have already decided to borrow money no matter what then I’d go the personal loan route- they can’t take your home away if some tragedy happens and you don’t pay.
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Re: Financial gurus
[Re: BassFever]
#15192713
09/17/24 12:44 AM
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Joined: Oct 2006
Posts: 104,550
Bigbob_FTW
OP
Big Sprocket Bob
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OP
Big Sprocket Bob
Joined: Oct 2006
Posts: 104,550 |
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Re: Financial gurus
[Re: Beer Money]
#15192714
09/17/24 12:45 AM
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Joined: Oct 2006
Posts: 104,550
Bigbob_FTW
OP
Big Sprocket Bob
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OP
Big Sprocket Bob
Joined: Oct 2006
Posts: 104,550 |
save your house payment for 6 month, year and pay cash, one project at a time This. Why get out of debt on your house and jump right back into it? That's what life trows sometimes.
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Re: Financial gurus
[Re: Smurfs]
#15192715
09/17/24 12:46 AM
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Joined: Oct 2006
Posts: 104,550
Bigbob_FTW
OP
Big Sprocket Bob
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OP
Big Sprocket Bob
Joined: Oct 2006
Posts: 104,550 |
save your house payment for 6 month, year and pay cash, one project at a time !y house payment was $542. Not going to get it done. The tub needs done asap.
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Re: Financial gurus
[Re: Bigbob_FTW]
#15192722
09/17/24 12:52 AM
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Joined: Jan 2006
Posts: 15,818
BassFever
TFF Guru
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TFF Guru
Joined: Jan 2006
Posts: 15,818 |
Then don't do anything. Save up and pay cash. You've been living with it like it is so carry on.
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Re: Financial gurus
[Re: Bigbob_FTW]
#15192726
09/17/24 12:56 AM
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Joined: Mar 2008
Posts: 61,798
LoneStarSon
Private Dancer
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Private Dancer
Joined: Mar 2008
Posts: 61,798 |
Honestly, I would try to find a 0% interest credit card and use it (Experian's website is actually really good at finding you cards that you are most likely to get approved for based on your credit and it's free). If that's not an option, I would check out a personal loan through a credit union. EECU is a good one.
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Re: Financial gurus
[Re: BassFever]
#15192727
09/17/24 12:56 AM
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Joined: Oct 2006
Posts: 104,550
Bigbob_FTW
OP
Big Sprocket Bob
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OP
Big Sprocket Bob
Joined: Oct 2006
Posts: 104,550 |
Then don't do anything. Save up and pay cash. You've been living with it like it is so carry on. Also not an option.
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Re: Financial gurus
[Re: LoneStarSon]
#15192730
09/17/24 12:57 AM
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Joined: Oct 2006
Posts: 104,550
Bigbob_FTW
OP
Big Sprocket Bob
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OP
Big Sprocket Bob
Joined: Oct 2006
Posts: 104,550 |
Honestly, I would try to find a 0% interest credit card and use it (Experian's website is actually really good at finding you cards that you are most likely to get approved for based on your credit and it's free). If that's not an option, I would check out a personal loan through a credit union. EECU is a good one. I'm a member. Financed two cars with them.
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Re: Financial gurus
[Re: Bigbob_FTW]
#15192739
09/17/24 01:04 AM
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Joined: Nov 2005
Posts: 3,835
CrazyCrappieGuy
TFF Team Angler
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TFF Team Angler
Joined: Nov 2005
Posts: 3,835 |
Borrow against your 401k if you can, you pay interest to yourself.
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Re: Financial gurus
[Re: Bigbob_FTW]
#15192749
09/17/24 01:13 AM
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Joined: Dec 2011
Posts: 4,619
JCBYEN
TFF Team Angler
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TFF Team Angler
Joined: Dec 2011
Posts: 4,619 |
Lot of home repair companies offering no interest loans.
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Re: Financial gurus
[Re: Bigbob_FTW]
#15192753
09/17/24 01:15 AM
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Joined: Feb 2008
Posts: 6,046
Jaredk
TFF Celebrity
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TFF Celebrity
Joined: Feb 2008
Posts: 6,046 |
I’d consider a garage sale and some side hustle.
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