No. of Recommendations: 0
Hi,
Well I have joined the ranks of the overly owed to the credit card companies of America. Now, I have a question. To pay this off should I quit putting money in my 403b account at work until this is resolved? There is no match in my case.


Hi Ginny!

I'd have to say no. You really don't want to stop those contributions if you can help it. While you're not getting matching funds, you are getting the benefit of having the money taken from your check as tax-deferred funds. So, for example, if you are contributing say, $100/mo. you may only be seeing $60 less in your pay. That's a fantastic way of savings, and you don't have to worry about taxes until long into the future when you start tapping into them--at which point, your taxable income will most likely be much less, hence reducing the tax bite.

My advice would be to just continue sending as much as possible each month. Cut back on things wherever you can, to be able to send as much as you can (and always more than the minumum due).

I'd bet that you'll be able to get that debt down without having to stop your TSA.

Good luck!

Tony
...but I still am...

Off2Aruba
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