Those seeking refuge from piling bills may be tempted to refinance their home in order to establish freedom from debt. There aren’t many home refinancing options available, and many of them come with increased interest rates and the risk of losing the home in the event of your inability to pay on time.

 

 

It may come as something of a surprise, but you may be richer than you think. By keeping track of income and expenditures through a higher-end household budgeting program, users become more aware of their spending habits. Like any other habit, this can be changed. Most people don’t realize that the little things purchased through the week add up to thousands of dollars over a very short period of time.

 

 

Once your household budget has been set and changes in spending habits have been altered, it may be beneficial to get in contact with a professional money coach. By analyzing your current financial situation and goals, an experienced money coach may be able to offer insight and recommendations that can lead to the creation of a personalized cash flow plan that can be applied to your debt.

 

Home refinancing converts unsecured debt into secured debt and cost more in interest over time. Before taking the leap and refinancing your home, create a financial plan with the best free online budgeting software available. Once completed, consider speaking with a professional money coach. It’s a simple step that could save you thousands and eliminate the risk of losing your home.