I recall many years ago my ex suggested that we sell our house to keep the struggling business (a restaurant) alive. I thought it was a very bad idea! I think there’s a phrase for that… “throwing good money after bad.” Yes, housing is a better bet than many small businesses!

And in some situations, it might be the right decision. As a financial coach, I recommend that people decide what price they’re willing to pay to realize a dream, and what price is too high. When we pay a price, little by little, that we never would have paid willingly up front, we end up angry and even resenting ourselves.

My ex didn’t care for the house and had no interest in the mortgage, so selling would have been the right decision for him. I had no interest in keeping the business and didn’t want to go back to renting, so it was the wrong decision for me.

Kate Phillips, Total Wealth Coaching

Chris Moran