Consolidating all of my Loan Payments

[selenia]

Hi there,

Please advise a plan to kill my debt.

I am 43yo and a single earner in NJ making around 142k before taxes.

The only contribution that's going out of my paycheck is 150$ for 401k with a match of 250$ from my comp, plus around 500$ goes in ESPP (15% discount).

I've saved around 10k for my elder one (8th grader) in UTMA and 7k for (2nd grader) in UTMA, plus my 401k stands at around: 65k as of today.

Every month I am trying to kill my debt but believe it or not, I feel I am at the same place.

Can anyone help me with some sort of plan to kill the debts as well as to grow the wealth peacefully? For 401k Loans, it's for helping my extended family during covid times as they ran out of money, and the dental plan is for my elder one. Credit cards are primary household because rents have gone up from 1500$ to 2200$ now and grocery and another expense net around 4 to 4.25k/month plus recently I booked a trip for my family almost after 5yr of staying home which cost me 6.5k.

I am putting money in ESPP as they are a 15% discount and I've around 4k parked there which I can withdraw anytime I like (income will be clubbed in the year I bought them if I sell

 

[baruch_atah]

@selenia

For 401k Loans it's for helping my extended family during covid times as they ran out of money

$37k out of your retirement account for your extended family when you were drowning yourself wasn't a good move.

Credit cards are primary household, because rents have gone up from 1500$ to 2200$ now and grocery and another expense net around 4 to 4.25k/month plus recently I booked a trip for my family almost after 5yr of staying home that costed me 6.5k.

You're not being honest with yourself. You racked up nearly $25k in credit card debt based on your rent going up $700/mo and 'other stuff.'

You may feel entitled to that trip but you couldn't afford it and now you're financing it at nearly 25% interest.

You need to post a full budget. What is your take-home pay and where does all that money go? You'll be able to understand your options better when you've done that.