Vol.3: Refinancing;
The Elder Millennial's Modern Day Curse Word:
It’s about time we clear the air on a financial strategy that's become surprisingly controversial in our generation.
Why "Refinancing" Became Our Generation's Dirty Word
Picture this: You're at brunch (because of course you are), and someone mentions they're refinancing their mortgage. The conversation shifts uncomfortably. There's a pause. Someone quickly pivots to discussing their latest home improvement project.
Here's what's happening: We've collectively decided that refinancing means you've failed at adulting. That you're drowning. That you made bad choices and now you're desperately trying to fix them.
Plot twist: That's complete BS.
The truth? Over 40% of millennials have refinanced in recent years. Not because they're failing—because they're actually killing it at this financial planning thing. But nobody talks about it because we've wrapped refinancing in shame like it's a financial scarlet letter.
The Real Deal About Your Debt (No Judgment, Just Math)
Let's get uncomfortable for a minute. Pull out your phone and add up what you're paying in interest across all your debts:
Credit cards (averaging 19-30% interest)
That car loan (6-8%)
Personal line of credit (7-12%)
Your mortgage (probably 4-6%)
See the problem? You're essentially paying a luxury tax on being a functioning adult with normal expenses.
Here's where refinancing enters the chat: By rolling those high-interest debts into your mortgage, you're not admitting defeat—you're executing a power move that would make your financial advisor slow clap.
The Math That Makes Sense:
$20,000 in credit card debt at 24% = $4,800/year in interest
Same $20,000 rolled into your mortgage at 5% = $1,000/year in interest
You just saved $3,800 a year. That's a vacation. Or 475 oat milk lattes.
Myths vs Evidence
Myth #1: "Only desperate people refinance"
Reality check: The most financially savvy people I work with refinance strategically. They're using their home equity like a financial Swiss Army knife—for renovations, investments, or yes, crushing high-interest debt.
Myth #2: "Refinancing is always expensive"
The truth: Yes, there are costs. Legal fees, appraisal, maybe a penalty. But when you're saving thousands in interest annually? That's like avoiding preventive maintenance because it costs money upfront, while ignoring the exponentially higher cost of letting problems compound.
Myth #3: "It means I can't manage money"
Actually: It means you understand that money is a tool, not a moral judgment. Using a 5% tool instead of a 24% tool isn't failure—it's optimization.
Not Your Daddy’s Mortgage Plan Anymore…
You're not your parents. Your financial life looks different:
Variable income? Check.
Side hustles? Obviously.
Student loans that feel eternal? Unfortunately.
Trying to save for retirement while raising tiny humans? Welcome to the chaos.
This is why custom lending solutions exist. Not every mortgage needs to look like your dad's 25-year fixed rate from 1987.
Your Strategic Options:
1. The Debt Consolidation Power Play
Use your home equity to pay off everything charging you criminal interest rates
One payment, one rate, one less thing to track in your budgeting app
2. The Life Pivot Refinance
Starting a business? Going back to school? Having twins?
Access your equity for major life moves without the shame spiral
3. The Rate Optimization Move
Markets changed since you bought? Grab a better rate
Switch from variable to fixed (or vice versa) based on your risk tolerance
Your 4 Step Action Plan (Sans Overwhelm)
Here's your action plan, served with a side of reality:
Step 1: Face the Numbers
List every debt and its interest rate
Calculate your home equity (home value minus mortgage balance)
Don't panic. It's just data.
Step 2: Find Someone Who Gets It
You need a mortgage professional who speaks human, not banker
Someone who understands that "stable income" doesn't always mean "corporate job"
(Hi, that's literally what I do)
Step 3: Run the Scenarios
What are the actual costs?
What are the actual savings?
What does this mean for your 5-year plan?
Step 4: Make the Move
Pull the trigger when the math makes sense
Use the freed-up cash flow strategically
Maybe don't immediately book that trip to Bali (but also, you do you)
The Ugly Truth
Once you refinance and pay off those credit cards? Cut them up. Seriously. Because if you rack them back up while carrying a bigger mortgage, you've just played yourself.
This strategy requires discipline. It's not a magic wand—it's a tool. Use it wisely.
Your Next Move (Because Clarity Needs Action)
Stop treating refinancing like it's admitting defeat. It's not. It's you being smarter than the system that profits from your high-interest payments.
Ready to run your numbers? Let's have a real conversation about whether refinancing makes sense for your specific situation. No judgment, no jargon, just straight talk about your options.
Book a 15-minute clarity call where we'll:
Look at your current debt landscape
Calculate potential savings
Determine if refinancing is your power move
Because here's the thing: The only thing worse than the stigma around refinancing is paying thousands in unnecessary interest because you're too proud to explore your options.
Your mortgage should work for your life, not the other way around. Let's make it make sense.
P.S. Still worried what people will think? Remember: They're not paying your bills. But they might ask you for financial advice when they see how much better you're doing.