tag:blogger.com,1999:blog-4230664367733655045.post8487423093565241486..comments2023-05-01T11:30:31.307-04:00Comments on The Haven of Home: To Sell or Not to Sell: Other options...Unknownnoreply@blogger.comBlogger7125tag:blogger.com,1999:blog-4230664367733655045.post-57407589074203592772010-02-01T16:02:33.273-05:002010-02-01T16:02:33.273-05:00Glam--That IS ridiculous about the canceling of CC...Glam--That IS ridiculous about the canceling of CCs, isn't it? <br /><br />Tutoring would be a possibility, but I am NOT up for taking care of kids. My son is lucky I take care of him (JUST kidding!)<br /><br />It's really tricky to compare all the little details with the tax stuff. We're going to have to really lay everything out and carefully comb through all the "what ifs" and the hidden costs and benefits.<br /><br />My brain hurts just thinking about it now!Roxannehttps://www.blogger.com/profile/05633120497088511282noreply@blogger.comtag:blogger.com,1999:blog-4230664367733655045.post-70547943059316435482010-01-31T20:15:49.759-05:002010-01-31T20:15:49.759-05:00Sorry, I just remembered something: if you get an ...Sorry, I just remembered something: if you get an equity loan the interest can be written off your taxes. This *might* help with your tax bracket, and *might* end up being lower, even though the rate is higher.<br /><br />Also, have you factored in the fact you wont be able to write off your mortgage anymore?<br /><br />TGHThe Glamorous Housewifehttps://www.blogger.com/profile/12924285221041725623noreply@blogger.comtag:blogger.com,1999:blog-4230664367733655045.post-91373460681724794702010-01-31T20:13:41.836-05:002010-01-31T20:13:41.836-05:00The reason you shouldn't cancel credit cards i...The reason you shouldn't cancel credit cards is because for some reason it dings your credit! Isn't that stupid! But true.<br /><br />Well, it sounds to me like you may have a lot of cc debt, but to have such low payments is excellent. <br /><br />I was also thinking maybe you could moonlight as a tutor? You already home school your child, maybe someone else needs some help? <br /><br />Also, because you are home, maybe you could be a babysitter/nanny for a younger child? You could earn some cash that way, and working moms are always looking for a good person to watch their kids. My only concern here would be liability. <br /><br />I will keep thinking.<br /><br />Thanks doll,<br />The Glamorous HousewifeThe Glamorous Housewifehttps://www.blogger.com/profile/12924285221041725623noreply@blogger.comtag:blogger.com,1999:blog-4230664367733655045.post-15951616809826588022010-01-31T18:37:35.756-05:002010-01-31T18:37:35.756-05:00Weenie--Another brilliant idea! We discussed that...Weenie--Another brilliant idea! We discussed that years ago and I can't even remember WHY we decided against it. I bet it had something to do with me whining about more paperwork LOL!<br /><br />We will definitely look into that as a way to improve our financial situation.<br /><br />Thank you!<br /><br />Keep the ideas coming, please!Roxannehttps://www.blogger.com/profile/05633120497088511282noreply@blogger.comtag:blogger.com,1999:blog-4230664367733655045.post-18987431134306027532010-01-31T18:36:06.482-05:002010-01-31T18:36:06.482-05:00Glam--
Answers:
Q1: We checked on that. The loan ...Glam--<br />Answers:<br />Q1: We checked on that. The loan % would be higher than our current credit card debt % which is 0% and 4%. <br /><br />Q2: We've consolidated all the CCs down to just two with the above rates. We originally had 7 cards with rates from 9% to 16%. That was a relief to get them to a low rate!<br /><br />RE: Not cancelling the zero cards. We've been wondering about that. We currently have about 10 cards that are zeroed out. WHY is it better not to cancel them?<br /><br />Q3: Renting the house out. We've LIGHTLY discussed that one, but your bringing it up will spark us to revisit that option. Thank you!<br /><br />Bring on the ideas!!Roxannehttps://www.blogger.com/profile/05633120497088511282noreply@blogger.comtag:blogger.com,1999:blog-4230664367733655045.post-82796575239134091722010-01-31T18:02:37.422-05:002010-01-31T18:02:37.422-05:00i don't know about in the US... but if your hu...i don't know about in the US... but if your husband could be paid as a contractor... then you can be paid as his subcontractor, which would spread the income load and be more beneficial tax wise.weenie_elisehttps://www.blogger.com/profile/11351069076057033043noreply@blogger.comtag:blogger.com,1999:blog-4230664367733655045.post-6146344307951238142010-01-30T22:34:09.830-05:002010-01-30T22:34:09.830-05:00Question: Have you tried to get a loan on your hom...Question: Have you tried to get a loan on your home equity? Rates are at an all time low, however it is also much harder to qualify. But it might be worth a shot. Maybe you could get an equity loan and then pay off your credit cards. <br /><br />Question: How many credit cards do you have? What are the rates on them? <br /><br />One way to pay off debt is to pay the minimum on all the cards EXCEPT the one with the least amount owed. You pay as much as possible every month until that card is paid off. Then you move to the next card. DO NOT cancel the card, just leave a zero balance on it. <br /><br />The best thing about the above is the feeling you get by seeing a big dent in one card every month and then checking off that card when you pay it off. It is a psychological win.<br /><br />Question: Have you looked into how much you could rent your house for? Would it be worth it to rent your house out while you rent a lower priced apartment or move in with family? That is a way to make money off your home without having to sell. <br /><br />These are just a few ideas. I will try to think of some more.<br /><br />Thanks doll,<br />The Glamorous HousewifeThe Glamorous Housewifehttps://www.blogger.com/profile/12924285221041725623noreply@blogger.com