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401K Loan

June 28th, 2008 at 08:47 am

A few years ago I took out a 401k Loan and Monday will be my last payment. I'm so excited. Now that I'm more into my finaces I know that that was a stupid move and I will never do that again. Well I don't have to because I have my starter EF in place. Now I will have an addition $138 a month in my paycheck which will go towards paying off my Target Credit Card Debt. Knowlege if power or should I say the use of knowlege of power.

Posted in Loan Repayment | 5 Comments »

5 Responses to “401K Loan”

  1. Joan.of.the.Arch Says:
    June 28th, 2008 at 09:11 am

    That must be a real relief. Now you can start moving ahead on your other plans. This is an important way of taking care of yourself.

  2. disneysteve Says:
    June 28th, 2008 at 10:05 am

    That's great! We all make mistakes and all we can hope is that we learn from them. Sounds like you have. Enjoy the bigger paycheck and the faster debt reduction.

  3. managinglife Says:
    June 28th, 2008 at 10:28 am

    That is a wonderful learning lesson. Thank you for sharing.

  4. dmontngrey Says:
    June 28th, 2008 at 04:28 pm

    Congratulations! I just set up the payment this morning to pay off my own 401k loan. It was due to be paid off in December, but I decided to get it over with now and enjoy the $18+ per week pay "raise"!

  5. asmom Says:
    June 28th, 2008 at 06:10 pm

    Congratulations, you're on your way.

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