No. of Recommendations: 3
Yes, I join in congratulating you on deciding to pay back the 401k loan. Selling stuff and working longer hours are two ways to increase income.

You write "I'm now only able to pay-off about" and that makes me think.
I'd like to see some more drive than this phrasing: the urgency of the great amount of interest you are paid last month and will pay next month means I urge you to
Park the car one or two days a week
eat rice and beans at home three days a week
find more stuff to sell
visit the public library: eliminate buying at bookstores, videostores and going to theaters for the next year
Discuss with your wife how holiday greetings, feasts, and gifts in the next six months can be the time for bows on lovely financial statements (those that show zero balances).
Spend some time with statistics: your daily spending, your monthly interest and fees payments, your net worth, where you guys used your credit cards in the last year (add up the charges: see the sinkholes)

and as a note, when exactly are you paying off the 401k?
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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.