The 401(k) often has an option where you can take out a loan and pay yourself interest. There are risks to be aware of, however, when taking out a 401(k) loan.
- HOME
- ABOUT
- ARCHIVES
- CONTACT
- CONTRIBUTE
- Email Updates
- Free Updates
- YouTube
- Follow
- Circle Us
- Like Us
- App
Personal finance topics including budgeting, debt elimination and faith based investing.
-
Featured Bible Verse
Do not wear yourself out to get rich; do not trust your own cleverness.Cast but a glance at riches, and they are gone, for they will surely sprout wings and fly off to the sky like an eagle. Proverbs 23:4-5
Bible Verses About MoneyBank Reviews
Brokerage Reviews
Software Reviews
-
-
Popular Posts
- Ways To Watch TV Without Paying An Arm And A Leg For Cable Or Satellite
- 120+ Bible Verses About Money: What Does The Bible Have To Say About Our Financial Lives?
- Ways To Make Extra Money Series: Guide To Diversifying Your Sources Of Income
- Dave Ramsey's New House
- 10 Tips To Help Sell Your Home Fast In A Down Market
- Should I Pay Off My Home Mortgage Early Or Invest?
- College Expenses: Should Parents Pay For Their Children’s Tuition?
-
Rate Center Today's Average Rates Across the Country* Refinance Savings / MMA CDs Product Today Last Week 30 Yr Fixed 3.96% 4.62% 15 Yr Fixed 3.51% 4.07% 5/1 ARM 3.14% 3.55% Refinance Rates provided by 
Min Balance APY Trend < $10k 0.27% $10k - $24.9k 0.33% $25k - $49.9k 0.44% Savings Accounts and Money Market Rates provided by 
Term APY Trend 6 Month CD 0.41% 1 Year CD 0.63% 5 Year CD 1.80% Compare Terms: - - Select One - - 6 Month CD1 Year CD2 Year CD5 Year CDCD Rates provided by -
- How To Create And Sell An Ebook On Your WordPress Site
- The Great Big List Of 75 Budgeting Tools, Finance Softwares And Iphone Money Apps
- Dave Ramsey's 7 Baby Steps (Series)
- Dave Ramsey's Financial Peace University (Series)
- A Guide To Making Money With Cash Crate
- How To Get The Best Deal When Signing Up For Cable TV
- How To Get A Deal And Save Money When You’re Buying Electronics Or Other High Ticket Items
- How To Have A Healthy Marriage (Series) Part 1 | Part 2
-
Recent Posts
- Ways To Make Extra Money Series: 20 More Income Generating Ideas From Our Readers
- How To Do A 401(k) Loan: Pros And Cons Of Borrowing From A Retirement Plan
- How I Ended Up With A $5000 Dollar Tax Bill This Year. Oops!
- Lending Club Returns Continue Upward Trend At 11.44%. Lending Club Passes 500 Million In Loan Originations
- Why You May Want To Get A Life Insurance Policy Even If You Don’t Have Kids
- Cutting The Cord And Getting Your TV On The Cheap (Without Using The Big Bad Cable And Satellite Companies)
- How To File Your Federal Taxes For Free Using Free E-File Programs
- The 401(k) Maximum Contribution Went Up This Year. Did You Bump Up Your Contributions?
- 401(k) Rollover To IRA: What To Do With Your Retirement Account When Leaving Your Old Job
- 8 Important Bible Verses About Money For Christians
Recent Comments
- Jenna, Adaptu Community Manager on Ways To Make Extra Money Series: 20 More Income Generating Ideas From Our Readers
- Trish @ Finances With Funk on Ways To Make Extra Money Series: 20 More Income Generating Ideas From Our Readers
- Irene on Home-Buyer Tax Credits Are Being Delayed Or Denied For Some Filers
- retirebyforty on How I Ended Up With A $5000 Dollar Tax Bill This Year. Oops!
- teresa on Should I Pay Off My Home Mortgage Early Or Invest?
- Jenna, Adaptu Community Manager on How To Do A 401(k) Loan: Pros And Cons Of Borrowing From A Retirement Plan
Disclaimer
The information contained in BibleMoneyMatters.com is for general information or entertainment purposes only and does not constitute professional financial advice. Please contact an independent financial professional for advice regarding your specific situation.
In accordance with FTC guidelines, we state that we have a financial relationship with some of the companies mentioned in this website. This may include receiving access to free products and services for product and service reviews and giveaways.
Any references to third party products, rates, or websites are subject to change without notice. We do our best to maintain current information, but due to the rapidly changing environment, some information may have changed since it was published. Please do the appropriate research before participating in any third party offers.
We respect your privacy: Privacy Policy.
Copyright © 2008-2012 Bible Money Matters. All Rights Reserved.
Blog Design by Logos For Websites based on the Thesis WordPress Theme. Sitemap | Advertise | Privacy Policy |
Reader Question: Is It A Good Idea To Get A 401k Loan To Pay Off Debt?
November 13, 2008I had a question posed to me this week about 401k loans, and whether they were a good idea. The person said they were considering using a 401k loan to pay off some higher interest credit card debt. The rationale behind doing this was that they’d rather pay themselves interest than the credit card company, [...]