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I fell into the trap of taking out a loan with my 401K to pay off bills... The best advice, don't. I ended up paying of the bills, have a 401K loan and then ended up racking up more bills. Meanwhile, I lost great returns on my money if I just left it there.

I now find that what I take home in money is generally my expense. So, I suggest pay yourself first by investing at the maximum for your 401K, put money away for unseen problems, save for college, etc. then what ever is left have fun... It takes discipline but once you have paid off the car without touching your 401K, you will be happy you did. Also you will have found money, becuase now the money you were paying for the truck, now can be used somewhere else.

good luck,
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