>> I have recently found out that we owe a lot in credit card debt.Does it make sense to borrow from my IRA or 401 K to pay off the credit cards?Hi Dede,I read through your thread (which veered off to the subject of medical debt) and noticed with dismay that you haven't posted again.I hope you are finding ways to pay off your debt which won't harm your future. I paid off over 40k in credit card debut, but early in my misadventures of debt and poor financial habits I borrowed against my 401(k), and later drained it (poor choices on my part because I have less money for retirement and the cost of living keeps going up and up). Later I racked up even greater cc debt.I have been debt free since October 2007 and am working on funding my retirement while "living below my means". I've always had a "spend it until it is gone" mentality (be it card cards or cash).Now that I'm back to living on a monthly budget I've recently switched my charity/cause column from annual to monthly (and upped the amount). I am excited because this means I now have 12 different charities or causes I can contribute to in a year instead of just one. I couldn't have done without budgeting. When you are debit in debt I believe that the first step is to figure out where your money is going. Sometimes you will be amazed at how much you've been spending in a certain category. The second step is to create a budget so that you can decide where you want to channel your money. The people on this board can help you with this.I hope we will hear from you soon.Sincerely,Shire
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