Hey r/personal finance,
We need landscaping completed in our backyard and got a quote for 20k to get it all fixed up. I don’t have that much money in my emergency fund to cover the expense and was narrowing it down to 3 options: personal loan, HELOC loan, or 401k loan.
Bit of background: Income: •130k/yr salary in HCOL •1k/mo tax free from va benefits
Expenses: •230k mortgage (we have about ~250k equity in our house) - $1650/mo •2020 highlander - 0% interest/5yrs (18months in) - $650 •Utilities - $300/mo (gas,water, electric,sewer) •Food - $500-600 (eating out/groceries etc) •Healthcare - $600/mo (including putting $400ish a month to hsa) •Investment - 18% of my salary (to max out per year) company matches 4% and adds 6% esop kicker for 10% additional (currently have 130k in it). •Car/motorcycle insurance - 325/month (275 for highlander and paid off Prius, $50 for paid off motorcycle) •Entertainment/shopping - $500-600 •Gas - $150/month
My question is what should I do? This landscaping essentially should happen as we would like to sell our house in the next couple of years, and it’s needed it since we bought the house.
Can anyone point me in the right direction for what’s best? I have excellent credit (>825) and am in my early 30s.
Thanks!
Submitted June 05, 2022 at 11:41PM by Careless_Gap7162 https://ift.tt/9z3dZ6H
