UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next
Author: EMTneeded One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309114  
Subject: Re: Current Situation... Any suggestions? Date: 10/23/2000 5:20 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Here are some things that may help:

1) Cut back to 5% on the stock purchase, using any available cash to pay down credit cards.
2) In late Nov. take out a 401K loan (if available) and pay off the car. Use the car payment to pay the credit cards. I suggest the car since you will be able to eliminate that debt totally while paying yourself back.
3) Cut back the 401K contribution to 6-8%, use the loosened up cash to pay back the 401K loan in #2(The interest is put back into your pocket)and any extra towards the cards.
4)Once the 401K loan is paid off take it out again, this time paying off the cards. Since they are the highest interest at that time and you will be able to eliminate them with a higher 401K loan after 12 -18 months. Pay off the 401K loan more aggressively.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

An Interesting Read
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.