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401K Loan

June 28th, 2008 at 03:47 pm

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 04:11 pm 1214669500
    1214669500

    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 05:05 pm 1214672759
    1214672759

    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 05:28 pm 1214674112
    1214674112

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

  4. dmontngrey Says:
    June 28th, 2008 at 11:28 pm 1214695728
    1214695728

    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 29th, 2008 at 01:10 am 1214701834
    1214701834

    Congratulations, you're on your way.

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