Reply to I need to cash out my 401k

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[quote=Anonymous]NP here.  I don't think you should touch the 401K; don't cash it out or take out a loan.  You will end up in the same situation over and over again if you take the easy (and more expensive) way out of debt.

You need to get organized and take charge of your money.  List out all of the debts that you have to pay off, including the interest rates, minimum payments, and current balance.  You need to see it all in black and white in one place.  Look at your monthly spending and see where you are spending your money.  Look hard to see what you can cut.  Several posters have provided good suggestions so far.  You have to change your mindset of "well it's only $25 a month".  That adds up, both over time and when when you combine each of those "just $25" expenditures.

If you list out your debts, then we can help give suggestions for how to prioritize paying them off, and illustrate when you could expect to have each paid off.  That might help motivate you.

Do you need to move?  It is hard to quantify the commute/schools/stability, so that would not necessarily be the first place I looked to save money, but it is an option.[/quote]

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