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Smart Start Money provides information on making smart money decisions. Providing tips, personal experiences, and opinions on saving smart and spending smart. Times have changed since getting a job and keeping the same place of employment for a lifetime. The average time spent with one employer is now three to five years. Companies are replacing workers with lean staff that previously held more people to accomplish the same tasks. This has resulted in periods of unemployment for many people making it challenging to save for retirement and stay debt-free. The rising costs of healthcare, consumer goods, and wages that often do not seem to keep pace with the cost of daily life make it more important than ever to make smart financial decisions. Millions of people struggle each day to get ahead. The intention of Smart Start Money is to not only provide insight into saving or spending but also open conversations. Discussions relating to the economy, employment, and even the occasional forbidden topic of politics are possible. If the subject matter has a correlation to helping people with their finances or questioning the so-called experts, it is open for dialogue. It has never been more important than ever to save and stay out of debt. No one has all the answers when it comes to personal finance. People come from all different backgrounds in life. The choices we make and the opportunities available are never identical. We can all learn from each other.
Episodes
Tuesday Oct 20, 2020
Don’t Take a Home Equity Loan for a College Education
Tuesday Oct 20, 2020
Tuesday Oct 20, 2020
With the rising cost of a college education, it can be challenging to come up with the money to pay for higher education. Student loans, grants, scholarships, and college savings plans can all help with financing a college education. However, sometimes even with several different funding sources there just never seems to be enough money for a college education.
For a homeowner, taking out a home equity loan or line of credit can appear to be a solution to funding a college education. However, the cons of doing this will almost always outweigh the advantages for numerous different reasons.
Borrowing from the equity in a home to fund college is not a good idea. The cost of doing this could end up being the most valuable thing a person has and this is a place to live.
This podcast episode talks about why taking a home equity loan is not a good idea for funding a college education.
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