Reply to I need to cash out my 401k

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP back- Yes, I think I am disciplined enough not to use the CC ever again. I can't reduce my living expenses though. I work in Tysons, so I need a  2 bedroom in an area commutable there. These are my major costs:

-My rent currently is $1600. I don't think I can reduce that unless I live way out and then I would have to pay more in gas, tolls ect, so is it even worth it?
-Daycare: 1300
-Cellphone: $70
-Internet & Cable: $75 ( its basic cable, cheapest I could find)
-Car Ins: $150 ( i have 3 accidents)
-Car Payment: $350
-Credit Cards: about $400/month
-Utilities: $250
-Gas:$200
-Food: Varies

So these are my main expenses. Thanks
[/quote]

Drop internet/cable. You can access this from the library for free.
Sell your car and take the bus/train. No more car insurance or gas.  That's $775 saved.
Now you have $700 per month to put toward CC debt (you'll use the difference for public transportation--can't cost more than $75/month, right?).
If you're feeling like you can't do it--just think, it's only temporary, until you're debt free and can SAVE for the next car. Your next care will be a used car that you pay for up front, in cash.

Good luck![/quote]

Don't listen to this. This is one of those idiots who make 800k and drive 15 yo hyndai so that they can leave a zillion dollars behind when they die or something.[/quote]

Exactly! Being squeezed financially doesn't mean you have to give up everything and be a martyr. Like I said in my response, your car and childcare expenses take the biggest bite out of your budget. Housing, food and gas are reasonable for the area.  Car (assuming you have less  than 2 years left) and childcare (child is 4) should be should go down significantly. The important thing is to not take up another bill after this. Until then do your best to keep paying down and saving, even the smallest amount. When things free up save more and pay down more.[/quote]

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