So D cashed out his IRA, it wasn't a lot of money (approx. $1800) but we got to use it towards debt! The reason we decided to do this was the day I told him we had gotten his collections debt down a significant amount! Well, low and behold, we come home to another collections account for around the same amount... that was a hard blow and I felt a little defeated. So we decided to go ahead and cash it out (since it was through our banker, it was a quick transfer and we will pay the taxes on it come tax return season in 2015). We sent the bulk amount to the new collections account, so we wouldn't have to worry about setting up a payment plan with them, then we sent the rest to that initial collection account and we are going to be able to pay that totally off next month!!
It's good to know that we are a step closer to being debt free, but once a pay increase comes around (or when our debt is payed off), we will definitely be contributing more into our retirement plans to help recover that money.
In the mean time I still totally have house fever, and it is driving me crazy. I just need to reset our goals and make sure that we have those set in our mind whenever we make any purchase!
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