Resourceful-Mom

Home Equity Loan and HELOC Suggestions

Today, I ran across an article written by the authors of Debt Be Gone Today, a site packed with helpful tips for debt freedom.  The article “Benefits of Taking a Home Equity Loan” brought a couple of things to mind that I thought might be beneficial if considering using the equity in your home to lighten your financial load.  These suggestions would apply if you are interested in either a Home Equity Loan or a Home Equity Line of Credit (HELOC).

Below, you’ll find the benefits from the Debt Be Gone Today article with my suggestions in italics. Read more…

Dave Ramsey’s Baby Steps Are Not For Babies

When I first heard about Dave Ramsey, I was a recently divorced mom with a new job.  Needless to say, I was determined to enjoy my new single life.  I was blessed with friends that would support my foolish spending habits, payday loans and shutoff notices that consistently took me by surprise. Murphy visited my home often. Read more…

My own worst enemy

Previously, I shared why experts say we shouldn’t purchase a new car, what I learned through my car buying experience and how well my first experience went. Well, my next car buying experience didn’t go quite as well.  But, like the 1st one, I think it was all in my preparedness or lack there of…. Read more…

Tire size surprise

In my mind, I never paid more than $100 for 4 tires when I owned my ‘91 Tercel.  Of course, when I talk to my ex husband, I’m off by about $50 but for 4 tires… that’s still not a bad deal. Years later, when I purchased the ‘99 Corolla and had to buy tires, I was shocked when I found that the tires were closer to the tune of $300 than my imaginary $100.   I was so shocked that I practically stormed out of PepBoys on a quest to find a “better deal”.  Well, to my dismay, there was no better deal.  Now, for a woman, it is very difficult to grasp that there is a situation where there is no better deal. Read more…

Life Lessons

If you’re like me, when something happens in your life, you run off to react and then settle back into autopilot until the next big event happens.  Along the way, people more experienced at life try to give you advice about these occasional crisis.  Some of the information is useful, but other pieces mean ABSOLUTELY NOTHING to you at the time.  Later, when you aren’t busy stomping out fires, you’ll recall bits and pieces of valuable information. Read more…

Paying for your next car

So, you’re in the market for buying a car?  Have you put any thought into how you are going to pay for the car?  If you are anything like me, your answer is “That’s ALL I’ve been thinking about!”   Well, good, let’s run through some of your options: Read more…

Buying the car you can afford

Many times, the car I want (luxury) is a far cry from what I can comfortably afford (economy).  This has less to with the sticker price and everything to do with the cost to maintain the car.

From a car maintenance standpoint, I suggest thinking worst case scenario.  Consider your income and responsibilities when answering this question.  How difficult would it be for you to fix or replace one, or more, of the following?

Read more…

Home Buying – Renting vs Owning

As with any decision, there are pros and cons.  So, it should be no surprise that this would be the case when deciding to purchase a home versus continuing to rent.  In addition, pros and cons vary based on the person assessing the situation. As an example, I am green thumb challenged so yard work does not interest me; however, if you love giving attention to your garden after work, you will disagree that yard work is a negative. Read more…

Paying your way through school

Attending an accredited college or university will require that you complete a Free Application for Federal Student Aid (FAFSA).

Not a bad thing, as it provides a financial snapshot for which to base your eligibility for federal assistance.  Federal assistance,  in the form of college scholarships, college grants and work study programs for college student, reduce the amount you have to potentially pay out of pocket in one form or another. Read more…

Your past, is it true?

Depends on what they say about me

Your credit report is used by many financial institutions to determine if, according to your history of paying others, they can trust you to pay them back according to the terms agreed upon.

Since a credit report is used to tell the story of your financial past, it’s your responsibility to monitor what is being said about you.  Below are items that could potentially be on your report, in no particular order: Read more…