While those with a professional background in contracting, construction, or related trades are welcome to look away, this post is for those American who have, are, or will be attempting to complete home renovation projects alone.

Investing in your home by staying on top of updates and necessary renovations is an important part of being a responsible home owner. However, some want to add value so badly, that they are willing to complete these renos alone, even if they have never even attempted anything similar in the past. In some cases, this positive, get-to-it attitude gives great returns, however there are certain projects which only the trained and skilled should attempt. Trying to bypass hiring a professional can not only have the potential of backfiring, it can end in a total and complete disaster.

Here are some projects you should never take on unless you have the licensing to do it legally:

• Electrical Work

There are a few reasons while electricians are always in high demand. For one, even if you plan on trying to get the wiring done yourself after finding a video tutorial on YouTube, you still need to hire an electrician. Why? Because in order for you not to void your own home insurance, you need to have an electrician come and sign off on the work done. By doing so, they certify that everything is up to code and is deemed safe. If something is off, you’ll most likely end up paying him to fix it and then give his stamp of approval. Was it even worth you trying in that case? Most often the answer is no. Another reason why DIY is not the best option for electrical work is because the risks created by doing it wrong are huge. Electrical fires are a common cause for home destruction in America, and if the insurance company finds out that it was due to your “fiddling”, you’ll get no help at all.

• Plumbing

Plumbing is heavy-duty work which requires a lot of specialized equipment and tools. However, sometimes eager DIY advocates have no problem renting the equipment and getting down to work. The problem is that there is a lot more to plumbing than putting in tubes. Like an electrician, it’s a specialized trade with a specific code which the plumber uses to make sure that you and your family are safe in your home. There are a lot of risks involved with pressure and such, so if you do end up trying to manage it yourself, be prepared to get messy and risk ruining other aspects of your house, like floors, ceilings, walls, and more. Having a good relationship with a qualified and honest plumbing service is never a bad thing. That way you have access to qualified technicians for all types of emergencies regarding your plumbing problems, no worrying or waiting for parts to get in.

• Gas Work

Installing or modifying the natural gas in your home is probably a game that you should not play. Not only is having a gas leak a big possibility with even bigger repercussions, you also need a professional’s stamp of approval, very similarly as what you need from an electrician for electrical work. The safety of your family, and that of your home insurance policy, rests in this rule.

• Structural Work

If you are looking to add value to your home with the smallest financial investment on your end, the last thing you would want to happen is to have your home sink or collapse. However, this is a real possibility for those who attempt to do structural work without a full understanding of what it entails. Putting up additions, moving walls, or opening a space should all be approved and overseen by a qualified professional. Of course, you can jump in and do the dry walling and the painting, however let the engineers calculate the bearing loads of walls and beams while you calculate the returns on your home renovation investment.

Adding value to your home through renovations can be a great way to boost your investment portfolio. However, it’s never worth it if it’s not done correctly. Always look for good quality and thoroughness when hiring a contractor to work on your home, and if you are going to do it yourself, get a second opinion on your work.

Most of us here on American Debt Project are looking for a way to become financially stable and liberated. However, often on this journey towards achieving this goal, we overwhelm ourselves with constantly calculating, comparing, researching, and maximizing our time and money. No matter what your financial situation is, it’s not worth driving yourself into a state of anxiousness and desperation in order to attempt to fix it.

Eliminating debt is all about balance and applying simple strategies to get real results. Though it’s definitely a lifestyle change, it’s not the sole purpose of your existence, and some of us have trouble facing this truth.

There are situations in which it is worth paying a premium to have peace of mind, even if that means losing out on some savings or even paying extra:

1. Insurance

It seems that everyone has a love/hate relationship with insurance. Though we see the value in having it in case everything goes wrong- not all of us have had to use it. When you calculate your payments over the years on your home, car, business, appliances, or even computer, you’ll find that it’s not always “worth it”. But the thing about insurance is that there’s no way to predict whether or not you will ever need it. However, we choose to have it because we know that otherwise we would have a very hard time financially dealing with and recovering from a blow like a destroyed home or totaled car. On top of all of this, there is the case for giving you the peace of mind to sleep at night. No worrying whether your rental car will be scratched or if you fall sick on your honeymoon- insurance has got you covered!

2. Postage Tracking

Though we know that “snail mail” has become a much quicker and more effective way of moving information and items than it used to be, there are still many things that can go wrong. Those of us on a budget are often tempted to go with the cheapest mailing option, even if it is the slowest, because we want to save money. However, depending on what the contents are, you might want to consider a better option which includes tracking and maybe insurance as well. Otherwise, you risk losing the entire value you are sending plus the cost of the postage, even if it was the cheapest one. This is especially important if you are shipping products out to clients who value having a tracking number and would be deeply unsatisfied if their purchase did not come on time. Having postage tracking also keeps you informed and not double guessing whether or not your recipient has successful received the item.

3. Security

Security today is much more complicated than it used to be, as risk has gone past a physical one and now affects the virtual realm. If you want to decrease your stress levels and leave the worrying to the experts, carve out a sum in your budget that will cover things like alarm systems, virus protection services, and a lock for your gym locker. If you are going to waste time and sleep worrying about it, it’s a much better idea to let go of that anxiety and trust that your safeguards are sufficient to keep you, your family, and your personal and business information safe.

4. Moving Team

Moving houses can be a stressful time. On top of all the expenses, all the paperwork, and the packing, there is also the elevated risk of your belongings either being damaged or going missing. Your entire life’s belongings are literally in the hands of the strangers who make up your moving team. Choose a company offering high quality moving services to have peace of mind during this busy time, and direct your energy into something more productive.

5. Home Inspections

When purchasing a home, especially one that seems to be “the one”, it’s easy to just want to jump at the occasion. However, to quiet that niggling voice at the back of your mind, it’s best to put down a condition in your offer regarding purchase upon a successful home inspection. A house is a big investment, and you want to make sure that you are confident in the condition of this building. The money spent on a professional home inspection will give you that extra bounce in your step as you know that you are making a sound financial investment.

Sometimes paying for peace of mind is actually a better investment of your money overall, as we have seen in these examples. Remember to value yourself and your health when making financial decisions.

Borrowing power is an important and helpful trait to possess. The ability to borrow definitely lends an assist when liquid cash flow is limited. Expenses and obligations do not take a holiday due to someone’s lack of liquidity. Borrowing does offer fiscal support in these times.

Not all is perfect for everyone, though. A loan applicant may find it difficult to borrow money if he or she is in the unfortunate situation of already being in debt. That said, debt does not automatically disqualify someone from being able to borrow. A car title loan could be procured no matter how indebted an applicant is.

Still, it would be helpful to explore all viable options for increasing and improving borrowing power when debt gets too high.

Address the Debt

The reason lenders are leery about lending money to someone who is in debt is concern over repayment. A person who is already in debt is not able to repay what is currently owed. He/she is simply a risk. So, paying back debt needs to become a priority. Those who do not need to borrow money at present may wish to think about the future. Making the repayment of debt a major priority may increase approval chances for a loan. This is a process that needs to start at some point. Additionally, paying down debt would have a positive impact on credit score and personal finances, two very important things.

Curtailing spending may be one way to cut down on debt. Often, overspending is the root of many financial problems. Reassessing one’s budget and getting spending under control could improve borrowing power and eliminate scores of unwanted and burdensome troubles.

Increase Income Potential

One major reason would-be borrowers are declined is they do not make enough income for the loan. Working at upping income streams is worth putting time and effort into. Yes, this is easier said than done but nothing is going to get done without a concentrated effort.

Boosting income is empowering in many ways. Access to more funds allows for covering the costs of necessities much more easily. Discretionary income increases as well. Of course, more income makes it easier to pay down nagging debt and eliminating all the problems associated with debt.

Working a little harder or getting a second job does not need to be a grind. Making money from a hobby, for example, could aid in driving annual revenues and earned income up.

Determine All Available Collateral with Clarity

A collateral loan may be available to those whose credit history and debt situation is less than perfect. Lenders all have different criteria when reviewing an application and looking at a credit history. Collateral definitely increases the chances of being approved for a loan.

Valuable collateral such as rare antiques could secure a sizable loan. Putting up a motorcycle or car as collateral may be preferable by some institutions since they are easier to sell if the loan defaults. Take this as a basis for the growth of the car title loan industry.

Performing an audit of one’s belongings may be a good move. There might be more collateral available than initially thought.

Improved Borrowing Capacity

Borrowing power is not always easy to increase, but enhancing this power might be less difficult than imagined. An effective strategy that employs simple steps to increase income, pay down debt, and examine collateral could be more than enough to expand borrowing horizons.

The Los Angeles financial recruiters at Beacon Resources separate themselves from other recruitment firms for several reasons. The company was founded by finance and accounting experts whose significant industry insight allows them to easily place candidates in positions where they will grow and thrive. So, what exactly makes this recruitment firm so different from the competition? Let’s find out.

Rich Client Base

The financial recruiters boast a rich client base that makes filling numerous roles within an organization a streamlined process. Their client base is such that they can often fill entire departments with capable, hardworking individuals.

People-Focused Methodology

A people-focused methodology remains at the heart of the Beach Resources agency. Recruiters work tirelessly to get to know both candidates and clients in order to make the best matches possible. They emphasize clients’ backstories to candidates to inspire them, and help them explore the best job options within their fields.

Trusted Relationships

The Los Angeles financial recruiters have developed long-standing relationships with finance and accounting managers throughout a range of markets to personally and expertly connect candidates with the right employers. They present the best candidates for each position, and have subsequently become the resource clients need for hiring the right individuals. Their recruiters proudly note that their clients rely on them—often exclusively—to find new employees rather than posting jobs on public forums. Clients would much rather use the rich and varied talent base Beacon Resources offer.

A Local Focus

This premier recruiting agency focuses on local rather than national markets, though it does work with partner firms to place individuals in their designated national sectors. The San Francisco finance headhunters prefer placing people within the Northern and Southern California markets instead of attempting placements all over the country.

Learn more about financial analyst jobs in Los Angeles today!

The pile of debt attached to your name may appear insurmountable. In fact, its presence may make you feel overwhelmed or that you are a failure in some way. Remember that you have admitted that a problem exists with your financial situation. The next step is to take actionable approaches to resolving it. Keep in mind that you want approaches that lead you to long-term solutions.

Evaluate Your Credit Report

Knowing your current credit score will help you to see how bad the situation really is. Also, your credit report will tell you where the deficits lie. You cannot fix the problem if you don’t know exactly what it is. For example, you may have little available credit. Evaluating your credit report is important because you want to check for errors. Someone along the line could have made a mistake that is negatively affecting your score. Once you identify it, you can call to resolve the issue.

Put Your Credit Cards Away

Having a credit card nearby in the event of a real emergency is important, but that does not mean you need to haul four cards with you wherever you go. Stopping the use of your credit cards is easier if you are willing to put them away. For example, you may want to put them in a safe with a few locks on it. You may also want to cut up and throw away your cards, except for one for emergencies.

Delete Your Stored Credit Cards

Even if you got rid of all the plastic, you might still continue to accumulate debt online. At your favorite online storefronts, you may have your credit card information saved. That means you do not even need to input the details to make a major purchase, further damaging your credit score and increasing your debt. Right now, go to those storefronts and delete your stored credit card information. Shopping online is generally not an emergency, so you should be safe.

Don’t Accumulate Other New Debt

You may feel confident in stopping your buys with credit cards, but you also don’t want to engage in other risky opportunities. For example, you might desperately need a new car and have no other way of obtaining one through financing. While adding on new debt is not good, you may have some tight situations like this one. You do want to avoid financial opportunities that tend to pile on the interest payments. In other words, the decision to avoid short term loans is wise.

Save a Little

Chances are that you use your credit card because you do not have enough cash to make necessary purchases. Even if you just put a little bit of money away each week, that is less that you need to rack up on your credit card. Start by challenging yourself to save 20 dollars per week. When that works out, slowly start to increase the amount that you save.

Seek Financial Advisement

When you are not an expert in financial matters, handling a large sum of debt can seem like an impossible task. Fortunately, financial advisers are available to talk through your money woes with you. They can help you to craft a plan that will bring you back to a good spot with your credit score in the not-too-distant future. Make sure that hiring a professional will not put a strain on your finances.

Declare Bankruptcy

You may find yourself at a point where you cannot pay your bills. If you truly have no other options left, you should speak with an adviser about the possibility of declaring bankruptcy. Keep in mind that doing so is likely to have a major negative effect on your credit score for awhile; however, you should speak with the adviser about how it can improve later on.

Getting out of debt is important so that you can live with a clearer financial conscience and procure better opportunities.