First Read: Part 1 | Part 2 | Part 3
John and Sara have been doing well with their new budget. They’re using their credit cards but paying them off in full each month. They have been in their home for over five years now and the equity is growing. They are starting to get an itch to improve or renovate!
They approach me for a loan for a new pool. And of course along with the new pool comes a hot tub and if you are adding a hot tub might as well update the deck too, right?
They are doing well – the credit cards are paid down each month and their line of credit is used and then paid down again through a month cycle. Because of all of the positive signs I approve a larger line of credit for the upgrade. They are also going to do a lot of the work themselves to save money.
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