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  1. I guess I should mention that that 12k is my only real emergency fund.
  2. The cc companies are mostly weasels, but in my experience, Capital One has been very good. Years ago, I got my rate down to Libor+3.59% I am pretty sure that is what it is still based on.
  3. No emergency, really. I don't HAVE to do anything different really, I am just tired of my current income to payment ratio. I have been carrying the same basic balances for over two years now and just can't seem to make much headway. Pretty much comes down to cash flow and light at the end of the tunnel.
  4. Well, here is my current complete cc situation. Balance Rate $6,850.00 3.90% Fixed $1,150.00 8.96% Variable $8,200.00 4.49% Fixed $6,644.00 1.99% Fixed $22,844.00 And the wife has $1,200 at 14.65 variable. 3/4 of this debt where medical bills, and I really did not worried about it much because of my good rates. But the cash flow is not letting me pay the balances down very fast at all. Pretty much just minimum payments plus $20 or $40. I really need to look at the whole pic, not just my two highest balances or interest rates. I really only have about $12,000 that is easily liquidateable. And, really, that is not enough to help the cash flow. I am sure I won't be doing the 401k loan, but I am leaning towards dropping the 401k funding down to $50 or $100 per month. And then, using the snowball spreadsheet as a guide, start working on my debt. Still looking at possibly rolling the two home loans together, but my 5.5% primary mortgage might be too good to screw with.
  5. I am not sure I would trust a lease turn in. I know at least one guy that leases cars and NEVER changes the oil. 25k-30k on the same oil. I know I would not want that engine. Some do have maint histories available, but many do not. Are there any studies on maintenance histories of leased cars verses owned cars?
  6. That Snowball spreadsheet is great! Powerful too. It looks like I will be better off not refinancing and rolling my home equity and primary mortgage together. I just need to get my Monthly available up, thus the basis of my initial question.
  7. I am just starting to work up my spreadsheet, but I don't have any teaser rates, so my snowball order is pretty straightforward. Is there a way to factor in multiple interest rates on the same card? I have one card that currently has a $6,644 balance. $5,914 is at 1.99 fixed and $795 at 10.52 variable. However, the lower interest rate balance is being paid off 1st. Aren't cc companies great.
  8. I did forget to mention there is no company match on my 401k. 2nd job is not really an option I can consider. I work 56+ hours a week now and have a wife and kid that I want to spend some time with in between projects around the house. I have done a budget and am up against it right now. Other than the 401K I am not really saving anything other than $50 per moth for a college fund. I have a $160k primary mortgage at 6.5 fixed and a $30k home equity at about 7.5 variable that I am going to combine on a fixed re-finance soon. I just have not decided on a lender, but am leaning towards a local bank. I will look into the snowball method.
  9. I need to pay down some debt and I don't have enough net income right now to make it happen as fast as I want to. I need to pay off at least $15,000 at an interest rate between 3% and 8%, depending on the bank. I guess I have several ways to do it. Option1, is to sell off some investments and pay the debt off. And continue funding my 401k at my current rate, and possibly increase my after tax savings by a hundred or two per month due to the elimination of some monthly payments. Option2 is to take out a loan against my 401K balance. I do not have much knowledge of this procedure, but suspect it may not be a very good option in my case right now. Option3 is to temporarily stop funding my 401K and then use the after tax money for the payments. I am currently funding it a $560 per month, so I figure I could increase my available monthly cash by about $400. I can plan to pay it off in 3 years at $470 per month. Option4 is to refinance my house and squeeze ever last penny out of it while maintaining my 80% equity, but I am not comfortable with doing this given the current housing market and the fact that the currently unsecured debt would become secured by my house. If something bad was to happen and I could not make all my payments, I would be better off with a more affordable house payment. I suppose I am currently leaning towards option 3. How about your thoughts on this? Thanks

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