Yes this is not cashing out, but I'm always hesitant to suggest a 401k loan because IMO it encourages bad behavior. If you can't afford the stuff without taking a loan out of your retirement...you can't afford it

Avalanche is highest interest rate first

snowball is smallest balance first

it can. depends on the lender and the specifics of the loan

still likely to be better than raiding your 401k

Usually 78% LTV

I was paying $26 a month in PMI. It's often a very modest amount, if you have decent credit score and didn't buy a high priced house

>Dave Ramsey says to pay the smallest debt first, but my $16,000 loan has an 18% interest rate, my student loan only has a 5% interest rate

Dave Ramsey is good for people that are clueless, have poor self-motivation, and need some direction. He says that so they can see progress, and because they are usually bad at math (otherwise they wouldn't be in dire straights and needing his guidance to begin with)

Paying a 5% loan down before an 18% loan is financial suicide

Pay the student loan down ASAP. As much as you can possibly afford every month

Zero

Pay PMI for a couple years rather than robbing your 401k

You know the answer to this. You don't need our permission or confirmation.

But if it helps, the answer is a resounding yes

Your tax preparer should not be your financial advisor

> Our tax preparer is of the mindset that we should be maxing out how much we give to the govt in taxes each year to ensure we get money back each year. I don't subscribe to that ideology and I'm looking for other tax shelters to prepare us as we continue to grow.

It sounds like you know enough about taxes and finance to do your own taxes and investing

Simplicity may help you a little. Changing your behavior and paying off your debts will help your credit score

Changing banks won't really do anything. That's sort of like saying eating your dinner in the basement instead of the kitchen will help you lose weight

Your biggest issue is not how many bank accounts you have, it's the fact that you are not making enough money to pay your credit card off.

Ideas to research:

transferring CC to a 0% balance introductory offer card, if you can find one and get approved

forbearance for student loans for a year until you can clear the credit card debt

Not sure if you qualify, but you could look into Michigan energy assistance program https://www.michigan.gov/mpsc/consumer/energy-assistance

getting a roommate

moving back in with parents, if possible

picking up extra hours or a side gig and putting all that money toward the CC debt

> But other than that no major life changes.

So other than those major life changes, you didn't have any major life changes?

Your federal witholding changed because your filing status and income changed. Simple as that

if insurance is cutting you a check for 2Kish , the no brainer decision is to fix your Legacy and kick the can down the road, while understanding you'll need to start saving for a new vehicle soon

Having a positive net worth exiting college is monumentally difficult, so congrats you are in a great position and are far ahead of most of your peers