Moving debt 2
April 1, 2020
I’m Miriam Neff-with STARTING OVER FINANCIALLY, and I’m Valerie Neff Hogan, and we’re here to talk about money
M Why resist the temptation to refinance your home and take money to pay off credit cards? That action does not change the habit of spending more than you earn. Sadly we see that credit card debt going up again.
V Refinancing has costs. Plus, should job loss or other crisis mean you cannot pay that mortgage, you are putting your housing at risk. Best plan, revise your spending to pay down credit card debt. There are organizations that will help by taking a set amount to pay down debt and negotiate lower costs.
M The best plan, owe no man anything but the debt of love. Romans 13: 8. Spend only what you have, not what you hope to have in the future.