06/21/2023
We're signing up for new debt!
First off, debt in and of itself is not a bad or shameful thing! We can use debt to help us buy a home, get investments, upgrade our living situations and get out of a bind.
I am not and will not be a "never say no to debt" person but this one did take me some time to get behind.
When we bought our house we knew it was going to need a new kitchen. It hadn't been touched since the 60s and there was so much wasted space that could be used to increase countertop space and storage.
It's already a small house so every square foot mattered to us!
After MANY quotes, chats with contractors, deep conversations and reality checks we've finally found someone we feel comfortable moving forward with to help execute on the project.
But with that comes the need for cash money! And the lesson I want to teach you here is that you don't have to go with who you currently bank with or the latest commercial you saw on TV - it's ok and RESPOSIBLE to shop around!
I called so many banks and credit unions to 1) understand their process for HELOC loans and 2) be able to compare rates and terms with one another.
After my research there was a true winner when it came to interest rates but we ended up going with someone else for a variety of other reasons (out of our control mostly).
We have excellent credit, no debt besides the mortgage so this was a debt we were fully ready for and excited to take on (helloooooo new kitchen!).
Do your homework and figure out a plan to pay it off, it's as simple as that 💛
