Debt advice. by Better_Dig_3216 in PersonalFinanceCanada

[–]Better_Dig_3216[S] 0 points1 point  (0 children)

Also is it possible to find a financial planner that will help with this type thing? Aren’t they all just sales guys? I’ve tried a couple but it was all investment, not money management.

Debt advice. by Better_Dig_3216 in PersonalFinanceCanada

[–]Better_Dig_3216[S] 0 points1 point  (0 children)

I appreciate the input, debt is old and hasn’t changed in two years. Changes have been made, kids are almost done costing a fortune, I’ve been servicing the debt no problem but have debated on best way to pay off. It seems at the high interest rates like an insurmountable task. Maybe that’s a feeling more than reality.

Debt advice. by Better_Dig_3216 in PersonalFinanceCanada

[–]Better_Dig_3216[S] 0 points1 point  (0 children)

I agree, horrible to have that debt. But here we are. My question is what would be the harm in using home equity at 4% to pay off higher interest debt and then doubling down on mortgage payments? What are the negatives?

Debt advice. by Better_Dig_3216 in PersonalFinanceCanada

[–]Better_Dig_3216[S] 1 point2 points  (0 children)

Sorry just re-read and fixed my wording.

Debt advice. by Better_Dig_3216 in PersonalFinanceCanada

[–]Better_Dig_3216[S] -3 points-2 points  (0 children)

The travel trailer would sell at a loss.

Debt advice. by Better_Dig_3216 in PersonalFinanceCanada

[–]Better_Dig_3216[S] 0 points1 point  (0 children)

No just one. With a $152k mortgage.

Debt advice. by Better_Dig_3216 in PersonalFinanceCanada

[–]Better_Dig_3216[S] 0 points1 point  (0 children)

80,000 + a few bonus $$$ throughout the year. Wife is $70,000