Category: Debt


Living below your means is not easy

It’s well known that, living below your means is the right thing to do.  But, it’s easier said than done. This is my personal story, and I’d like to share it with you. In the spring of 2000, I bought my first house.  The mortgage was the 30-year term, with the fixed rate of 8.25%.  You must be thinking that, it’s insanely high.  You are right.  That was...


Use Home Equity Line of Credit (HELOC) Wisely

Are you a homeowner?  If yes, probably you noticed that, the value of your home went up lately.  Today we are going to tackle the details of the Home Equity Line of Credit, abbreviated as HELOC. Sometimes it’s simply called ELOC. Knowledge is power.  Next time, when you are in the bank, the banker may want to drag you to his/her office with all smiles, and try to...