The Motley Fool Discussion Boards

Previous Page

Personal Finances / Buying or Selling a Home


Subject:  Re: 3rd position HELOC Date:  6/25/2008  10:25 AM
Author:  Richthofen80 Number:  111438 of 128973

Why not pile up some cash instead of being leveraged? I dunno if in an emergency taking on MORE debt is such a good idea. I definitely don't like borrowing my way out of anything, because it usually doesn't work.

I put a $1,000 a month draw on my primary checking account for a year and stockpiled bonus money and other income into a money market fund. Took about a year, but now I have 20K as a cash reserve.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us