Reply to I need to cash out my 401k

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, what's your take-home pay each month?  What does the $400 in credit card expenses go to?  (Is that where you're accounting for clothes, health care, entertainment, toys?)

Your utilities seem high to me for a 2-bedroom apartment.  Could you change the thermostat temperature to lower those bills?  For food, search DCUM for tips on lowering your bills, you'll find some good ideas.[/quote]

The thermostat is set at 72 degrees. I pay for electricity and gas and yes it is high. The $400 in credit card expenses is what I pay monthly to decrease the $7k balance ( not extra spending)[/quote]

Don't try and pay both down at the same time.  Pay the min on the highest limit credit card and put the extra on the lowest balance one.  when the lowest balance is paid off you will get an emotional boost that will help you to get more intense and a sense of pride.  when that one is paid off..start paying that money to the other credit card along with the min that you were paying.

I know some say it make financial sense to pay the highest interest..but right now you need emotional boost to keep you moving forward.  Having one paid off made me feel so proud.  It is not always financial it is also emotional-to help change the way you do things.[/quote]

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