No. of Recommendations: 1
And.... last reply for today.

what are your thoughts on downsizing my retirement contributions for the short but not super-short term

I did this while I was paying off my debt. (In fact, one of my debts was a 401(k) loan. With encouragement from this board, I paid that one off very early on.) I agree with those who note that you must actually use that money toward debt payoff. Rather than making a sudden significant reduction in contributions, how about FIRST setting up an auto-payment to your credit card of choice on the same day you get paid. Say an extra $50. And THEN reduce the contribution to your 401(k) by, $50 plus taxes so that you net the $50?

If you can do it that way, you never see the money and aren't tempted to spend it. But -- test and experiment to see if you really do it, with someone small enough that if it doesn't work, you can undo it. AND of course, make sure your partner in the fight (your wife) is completely on board with this approach.

ThyPeace, you know, like these two: Which reminds me, renting from RedBox and making popcorn at home? Less than $5, even if you go all out with the butter and add Hot Tamales. When you get to a milestone, plan something like this as a treat for the two of you. Totally worth it.
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