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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: 125% Consumer Loans - Date:  5/29/1998  4:47 PM
Author:  PSUEngineerFool Number:  1899 of 312189

To your second question:

What I meant to say before is to pay off unmanagible debt. Alot of us have debt such as credit cards, house, and car debts. But we pay what we need to manage our debts. We don't let the interest to keep building on the credit cards until it gets unmanagible so that we can keep funding the 401K.

My opinion is to:
1. Pay at least the minimum payments on the debts.
2. Get the company match in the 401K.
3. Then pay extra on the credit cards.

Other opinions? Please post your question in the retirement folder for more opinions.
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