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First, let me say that I don't have anything in co

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First, let me say that I don't have anything in collections nor do I have creditors hounding me but my husband and I just bought a house, then I have incurred significant medical expenses that will continue to mount because my illness is ongoing. Add in all the expenses that come with owning a house and we have months where we have very little wiggle room and in today's economy, that makes me very nervous.

Like I said, we're not in real trouble yet but I don't want us to get into real trouble but I don't know all that much about finances. I can use my common sense to pick out the things that need to be paid off first because of higher interest rates but I have no idea how to calculate the savings and compare all my loans, credit cards, etc on all the smaller stuff. I'm also finding it difficult to come up with a significant amount to pay extra on any of my expenses because of all the little expenses that really gnaw away at your income. Can you help? Give me some advice on how to figure all of this out and how to set up a plan that is actually plausible? Also can you explain the whole 401K loan concept to me? Any suggestions you might have will be greatly appreciated and you have my thanks in advance for taking the time and trouble to do this.


First, what are your goals? Then besides the mortgage you mention what other loans and how many credit cards do you have? If you could outline where you want to be and where you are (amounts owed, available credit, interest rate, etc) you would get better advice.

Sub: #1 posted on Thu, 04/07/2011 - 15:39


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See, there are a lot of ways one might go about solving this problem. Some of us will simply try to pay off the credit card that charges the highest APR. If you're not in a position to assess your risks, you may go for a free counseling session with any of these credit repair services. Our community has chosen a few good companies who might guide you in this regard -

Sub: #2 posted on Thu, 05/19/2011 - 22:45

Jeorge Preston Jeorge Preston

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