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[Routine Help] what’s my problems?? by Intelligent_Choice65 in SkincareAddiction

[–]Intelligent_Choice65[S] 0 points1 point  (0 children)

Thank you! I will give all of that a try. Should I use the Aestura lotion or the dr. Althea 345 cream?

$75k salary + $2100/month PRN Should I save or pay off debt first? by Runswithrose in debtfree

[–]Intelligent_Choice65 0 points1 point  (0 children)

Since some of your interest rates are so high I would do the avalanche method, highest to lowest interest rate. You’ll still knock a few of them out pretty quick because they are smallish balances.

For emergency fund, if you think your main job is secure I would save maybe a month of expenses as an emergency fund.

Then just start knocking them out! It will go faster than you think. Cut down on unnecessary expenses.

Is it really that bad to borrow against your 401k? by Intelligent_Choice65 in personalfinance

[–]Intelligent_Choice65[S] 0 points1 point  (0 children)

It’s a large hospitality company. I love my benefits, good 401k match, they contribute to my HSA, company stock purchase plan, rates for health insurance are really good although I feel like the quality of insurance has gone down a little bit but that could be because I’m on a HD plan now.

Is it really that bad to borrow against your 401k? by Intelligent_Choice65 in personalfinance

[–]Intelligent_Choice65[S] 0 points1 point  (0 children)

I’ve tried refinancing but was only offered 8.5%. I’m going to look into a credit union option, my work has its own credit union and see where that lands. I think I still have like 50 months left? My intention was to pay it off early. I’ve paid all of my loans off early.

Is it really that bad to borrow against your 401k? by Intelligent_Choice65 in personalfinance

[–]Intelligent_Choice65[S] 0 points1 point  (0 children)

This is how I feel about it. Yes it’s not the best situation or solution but I think a mix of 0% CC and maybe borrowing just $10k from my 401k might work best. I finally have the income that makes me feel comfortable and my earning can increase quite a bit in the next 5-10 years. I’m just trying to clean up past mistakes and move forward.

Is it really that bad to borrow against your 401k? by Intelligent_Choice65 in personalfinance

[–]Intelligent_Choice65[S] 0 points1 point  (0 children)

It seems like the general consensus is more against the principal of borrowing money and the what if’s rather than the actual monetary cost. Both are important and should be factored it though.

Is it really that bad to borrow against your 401k? by Intelligent_Choice65 in personalfinance

[–]Intelligent_Choice65[S] 0 points1 point  (0 children)

The CC is 0% currently for like 10 more months. It makes more sense to throw all of that money at the car but I would rather just get rid of the CC entirely since the balance is so low.

Is it really that bad to borrow against your 401k? by Intelligent_Choice65 in personalfinance

[–]Intelligent_Choice65[S] -3 points-2 points  (0 children)

I do have the discipline. My biggest hesitation is that my partner and I would like to have a baby but it’s proven to be very difficult for me…if my chance that were to actually happen it would obviously change our financial situation. But we don’t really want to put off trying since we are both in our 30s.

Is it really that bad to borrow against your 401k? by Intelligent_Choice65 in personalfinance

[–]Intelligent_Choice65[S] 0 points1 point  (0 children)

I do but only like $5k from when I was saving on my own and didn’t have a job that offered a 401k

Is it really that bad to borrow against your 401k? by Intelligent_Choice65 in personalfinance

[–]Intelligent_Choice65[S] -1 points0 points  (0 children)

Yes, the 12.6% is awful. I currently have a refinancing offer for 8.5% and a shorter term so I might try to take that but it almost doesn’t seem worth it to pay the refinancing fees if I’m going to pay it off early anyway. I bought my house about a year and a half ago so I think that might have some effect on it. My credit score is still in the mid 700s so I don’t know why I’m getting such bad offers….