Dear Dave: My husband’s company recently told everyone that massive layoffs are coming and they should start looking for other jobs. Right now, all of his options are out of town. A real estate agent told us we’d have to remodel our kitchen in order to sell the house. We’ve got $3,500, but remodeling would take about $2,000. Should we get a second mortgage to get the work done? — Pamela
Dear Pamela: You might want to get another opinion. Sure, a new kitchen would be nice, but is that the end-all, be-all? Either way, there’s no way I’d go into debt to make this happen. Your house isn’t even on the market yet. There’s no reason to fix up a house that’s not for sale, especially when you only have $3,500 to your name.
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Dave Ramsey is a personal money-management expert, a best-selling author and host of the nationally syndicated radio program "The Dave Ramsey Show," which is heard locally on KROC-AM. For more financial advice, visit daveramsey.com