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Money and Finances
Reply to "I need to cash out my 401k"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I would rent a cheap one bedroom for a year and try to pay off the cc debt that way.[/quote] You also have to factor in moving costs and the hassle of moving. Sounds like you have an easy commute -- I would stay.[/quote] Agree with PP about not moving. Moving costs will eat into a lot of the potential savings. Factor in the costs, stress, and quality of life impact of a longer commute, and you'd need a huge drop in rent to make a move worth it. Look at car and daycare expenses again. And as PPs have noted, you have to get a handle on food spending--there could be big room for savings. Are you eligible for a credit card balance transfer offer? Buy yourself some time, save aggressively, then throw your savings at the balance while it's still at 0%. Something I'd only recommend if you are NOT continuing to use cards. And keep your 401k money where it is.[/quote]
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