We recently had some medical surgeries/large home repairs eat our savings and put us swiftly into 10,000 of credit card debt.
We do not use credit cards for day to day expenses, only debit. I have no savings anymore but do have a company SEP IRA with about 8,000 in it.
I'm starting to use YNAB to see where I can cut costs to increase saving/debt payments foremost but have a couple of questions:
1) Do I replinish my savings before attacking the debt?
2) I have about 7,000 in a company funded SEP IRA (not yet invested). It is tempting to use that to get a fresh start on the debt after I replenish savings but I'd imagine that's more of a last resort (somebody is dying/bankruptcy) idea?
3) Should I look into a debt consolidation loan or keep opening balance transfer cards at 0% as long as I can?
4) Do I pay minimum debt monthly and save money to pay off the debt all at once later, or do I increase my monthly payments to the card?
Submitted April 26, 2019 at 05:38PM by EvTerrestrial http://bit.ly/2IKlK1E
