About Me

* * * * * * * * * * * *

* * * * * * * * * * * *

| BABY STEPS |

B1 = Baby EF $1,000 EF
B2 = Debt Snowball started
B3 = BIG EF (3-6 mos)
B3.5 = Save 20% for our 1st house
B4 = Invest 15% to Roth
B5 = College Fund for Kids
B6 = Payoff Mortgage
B7 = Build Wealth

* * * * * * * * * * * *

Credit Card Balances

CC01--$406--BofA
----Paid 9/18/09
CC02--$455--1st Prem
----Paid & Closed 2/20/09
CC03--$425--Cap 1
----Paid & Closed 2/27/09
CC04--$489--Orch 4
----Paid & Closed 2/27/09
CC05--$538--Orch 1
----Paid & Closed 3/27/09
CC06--$697--Orch 3
----Paid & Closed 3/27/09
CC07--$585--Credt 1
----Paid & Closed 4/27/09
CC08--$305--Best Buy
----Paid & Closed 7/29/09
CC09--$475--Orch 2
----Paid & Closed 9/18/09
CC10--$490--Cap 1
----Paid & Closed 9/18/09
CC11--$1,169--Kay
----Paid & Closed 5/29/09
CC12--$2,400--Dell
Loan--$2432 --American Gen
----Paid & Closed 5/29/09

* * * * * * * * * * * *
Medical Collection Accounts
these babies are old - but on the credit report. have to pay in order to get a home loan in the next year! Plus they ARE mine. :)

Paid today (10.5.09)
COL0 $118.00
COL0 $61.00
COL0 $7
COL0 $51

Left to pay by January
COL1 $55.00 - PAID 11/17
COL2 $59.00 - PAID 11/13
COL3 $69.00 - PAID 10/16
COL4 $92.00 - PAID 11/17
COL5 $118.00 - PAID 11/6
COL6 $200.00
COL7 $214.00 - PAID 11/17
COL8 $218.00
COL9 $220.00 - PAID 11/17
COL10 $232.00
COL11 $247.00
COL12 $449.00
COL13 $698.00
COL14 $753.00
COL15 $1,159.00
Total $4765.00
* * * * * * * * * * * *

Savings Goals
SOME SAVINGS ON HOLD TO PAY OFF REMAINDER OF BILLS. ONLY SHORT TERM and MID TERM ARE BEING ADDED TO.

Short Term (MMDA)
$300 / month for medical, clothes, tags, etc)

Mid Term (ING Savings)
$200 / month for replacement car, downpayment for house, vacation)
Goal = $1000 by 12/31/09

Long Term (ING Savings)
$100 / month for IRA and college accounts (3 kids)
Goal = $500 by 12/31/09

EmerFund (Credit Union Savings)
$100 / month for emergencies
Goal = $500 by 12/31/09

* * * * * * * * * * * *

A FICO Make-Over Story
There was once a girl who was married to a boy. They mis-judged and mis-used their credit for ten long years. One day, after everything was just about hopeless, they decided to turn their life around. This is a story of how a fun-loving couple in their 30s decided to become debt free, in order to purchase their first home for their three lovely children.

JJ's Scores

JR's Scores

The scores are lowwww and dirty! But if anyone can change it - these two can!

Follow their progress. The Scores will be updated every 90 days. Watch for the next update on 8.29.09. -UPDATE- Slight change, mostly upward!

**Thoughts on Mays Scores**
They are going UP! I cannot believe it! We are finally getting somewhere! How exciting!

My Pages

About Us

401K Loan

August 12th, 2009 at 07:26 pm

Last year... I decided I needed to finally finish my degree. What was stopping me? $1015 I owed to the University. In the 3 years since I stopped going to school, I could not manage to pay that amount. When I realized I needed to get back in school quickly (to avoid credits expiring), I decided to take the money from my 401K as a loan.

I just checked my balance... I owe $27.66 which will be taken care of on my next paycheck! How exciting is that?

Since then I did graduate with my Bachelors... and I am now in my 3rd class of my MBA. Life is lookin' fine. Smile

Posted in Savings | 4 Comments »

4 Responses to “401K Loan”

Apprentice Bliss Hunter Says:
August 13th, 2009 at 04:05 am

Good job !
creditcardfree Says:
August 13th, 2009 at 06:37 am

When I read your title, I was worried at what I would see when I read the full post. However, in your case, this was probably an excellent way to move forward in your life. I commend the fact, that you took a small loan and you have paid it back quickly. Congrats on all your successes!
disneysteve Says:
August 13th, 2009 at 09:43 am

I agree with creditcardfree. I was expecting this post to be some horror story. I am very strongly opposed to 401k loans, but you are clearly a happy exception. You borrowed a small amount with a clear purpose of where the money was going and how it would get repaid and you followed through.

Good for you and congrats on your new degree.
Jerry Says:
August 14th, 2009 at 02:16 pm

I think that you made the right choice, as well, since it leads you upward to bigger and better things! Congratulations on the graduation and on making progress toward your graduate degree, that is fantastic. I firmly believe that an education is one of the best forms of insurance for a successful future. Keep it up!
Jerry

No Pain | No Gain

No one ever said this was going to be easy.

401K Loan

4 Responses to “401K Loan”

Leave a Reply