Just had to chuckle because my wife and I are doing something that the average person should never do (assuming they’re fortunate enough to even consider it like we are):
We have like 90K in credit card debt.
…
At 0% for the next 18 months. Went ahead and financed extensive renovations on CCs with 15-18 months at 0% intro offers. One of them is earning 1% cash back as well. Considering we only got charged 3% extra to bill to CCs and we can park the payoff funds in SPAXX earning nearly 5%, it’s a pretty sweet deal to keep liquidity!
These most recent ones are for fun. One of those classic HGTV-style renovations. Knocking out walls, putting in a beam, redoing the kitchen and fireplace. We’ve probably put about another $60K in necessary repairs and appliance replacements in the 5 years we’ve owned it.
Still though, even if these renovations added zero value we would still be ahead in home value since we bought it.
Got it, that’s fun then at least! Do planned renovations figure into your larger RE strategy at all?
We’ve done $225k(ish) in renovations over the last four years and there are still two largish projects on our wish list. I want to wrap up the (known) big stuff before RE.
We haven’t, but we’ve also been accumulating them since at least a few years before the inflation spike. It’s not a big enough chunk of my portfolio that I’m worried about hyper optimizing. If the spread with other options widens I’ll probably change my tune.
I'm planning on it so I can keep my "cash" together. I hold t-bills in my brokerage account, and I only bought ibonds to take advantage of the higher interest rates. I've only had mine for 1-2 years, so it's not a huge win, but it makes me feel like I'm willing enough to keep my from playing with the market.
7 Comments
runawaycorvid@lemmy.world · 3 pts · 3y
Just had to chuckle because my wife and I are doing something that the average person should never do (assuming they’re fortunate enough to even consider it like we are):
We have like 90K in credit card debt.
…
At 0% for the next 18 months. Went ahead and financed extensive renovations on CCs with 15-18 months at 0% intro offers. One of them is earning 1% cash back as well. Considering we only got charged 3% extra to bill to CCs and we can park the payoff funds in SPAXX earning nearly 5%, it’s a pretty sweet deal to keep liquidity!
FancyPantsFIRE@lemm.ee · 2 pts · 3y
Are these renovations fun or just necessary? We’ve had to do quite a bit with our century home, unfortunately most have been the not fun kind.
runawaycorvid@lemmy.world · 2 pts · 3y
These most recent ones are for fun. One of those classic HGTV-style renovations. Knocking out walls, putting in a beam, redoing the kitchen and fireplace. We’ve probably put about another $60K in necessary repairs and appliance replacements in the 5 years we’ve owned it.
Still though, even if these renovations added zero value we would still be ahead in home value since we bought it.
FancyPantsFIRE@lemm.ee · 2 pts · 3y
Got it, that’s fun then at least! Do planned renovations figure into your larger RE strategy at all?
We’ve done $225k(ish) in renovations over the last four years and there are still two largish projects on our wish list. I want to wrap up the (known) big stuff before RE.
Sniffy@sh.itjust.works · 2 pts · 3y
Have you guys sold your I-bonds? I had it less than 5 years but thinking about moving it to HYSA.
FancyPantsFIRE@lemm.ee · 3 pts · 3y
We haven’t, but we’ve also been accumulating them since at least a few years before the inflation spike. It’s not a big enough chunk of my portfolio that I’m worried about hyper optimizing. If the spread with other options widens I’ll probably change my tune.
sugar_in_your_tea@sh.itjust.works · 2 pts · 3y
I'm planning on it so I can keep my "cash" together. I hold t-bills in my brokerage account, and I only bought ibonds to take advantage of the higher interest rates. I've only had mine for 1-2 years, so it's not a huge win, but it makes me feel like I'm willing enough to keep my from playing with the market.