Spinoff to 'poor' post

StaceyWill Posted: Dec 23, 2009 01:33 PM

Spinoff to 'poor' post

If worse comes to worse and you aren’t going to have enuff $$ to pay for everything, what is your plan B?.
I was contemplating getting a loan from my 401k, but then heard that’s a really bad idea. Soooooo, I think we would either get a loan from the bank or apply for credit cards up the wazoo and get cash advances from them (hardly any of my vendors accept credit card payments for final payments).

SummerBride10 Posted: Dec 23, 2009 01:33 PM

Re: Spinoff to 'poor' post

borrow from my parents

MrsC2010 Posted: Dec 23, 2009 01:34 PM

Re: Spinoff to 'poor' post

borrow from the parents...

halfbaked Posted: Dec 23, 2009 01:35 PM

Re: Spinoff to 'poor' post

I have no idea. My stomach just turned a little thinking about it. I guess we'd have to borrow money from FILs. They offered to give us money for the wedding but we said no we wanted to pay for it ourselves (stupid, stupid us) and that if they'd like they can give it to us as a gift towards a home after the wedding. I guess we'd have to **** it up and take it before the wedding to make the final payments, but I really don't wanna do that. It'd be like admitting defeat.

Future Mrs P Posted: Dec 23, 2009 01:35 PM

Re: Spinoff to 'poor' post

Were going to try to not have to open any more cards. So if we can borrow from my parents we will. If not who knows!!

rdubs Posted: Dec 23, 2009 01:36 PM

Re: Spinoff to 'poor' post

We put more $ in but really hoping not too....

401K borrowing not a great idea but be careful with cash advances on credit cards--they charge a much higher % than normal credit card finance fees...

Jna2010 Posted: Dec 23, 2009 01:37 PM

Re: Spinoff to 'poor' post

sell myself on a street corner lol

MrsSoto Posted: Dec 23, 2009 01:38 PM

Re: Spinoff to 'poor' post

my plan B is to ask my mom to put things on her credit cards. im maxed out! and she has no cash at all on hand.

this is sad guys! lol

AdriandSteve Posted: Dec 23, 2009 01:38 PM

Re: Spinoff to 'poor' post

ask my mom. But if I calculated correctly FH and I should have the wedding paid off (including final RH payment) in July. We'll see if that actually happens

regy_k Posted: Dec 23, 2009 01:40 PM

Re: Spinoff to 'poor' post

well 1st I'll contemplate suicide.

then..........
I prob ask my aunt for a loan.

this is the worst case scenerio. there is no way this will ever happen! (<--just sending it out there into the universe )

FutureCap Posted: Dec 23, 2009 01:46 PM

Re: Spinoff to 'poor' post

honestly, i am an accountant and i did a 401K loan a couple of years ago. its all paid off and I would do it again if ever had to.

halfbaked Posted: Dec 23, 2009 01:49 PM

Re: Spinoff to 'poor' post

Posted by FutureCap

honestly, i am an accountant and i did a 401K loan a couple of years ago. its all paid off and I would do it again if ever had to.

Can I ask what this would entail? I don't know how you'd go about doing this or how it would end up negatively for you. I mean it's your money.... isn't it? I know you have to pay taxes on it, but I don't understand why you have to pay it back? Forgive me if it's a dumb question, but anytime someone tries to explain all things credit card/mortgage/loans comes out sounding like the adults in Charlie Brown to me.

eternitybride Posted: Dec 23, 2009 01:50 PM

Re: Spinoff to 'poor' post

I am hoping my student loans dont get screwed up. We are going to be about 1k short the week before the wedding. My loans are set to be dispursed to the school Jan 6, so hopefully I will get my portion on the 11th, and it will clear in time for the 17th

Im_My_Own_Princess Posted: Dec 23, 2009 01:50 PM

Re: Spinoff to 'poor' post

lets see... my parents are already giving as much as they can... so we can't borrow from them.
FH is putting more then half his paycheck into the savings/wedding account... and I'm TRYING to help out.. I don't make much, so I know I can't go crazy with extras, but as it is... we're having issues paying the TWO vendors we have...
I think we're paying more then we could afford (or even should) for our photographer/videographer.

but yea, if we can't afford it.. we'll open cards at the wedding... if $ is needed beforehand.. i have no clue.