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Paying off debt and TSP

Good Morning ladies! DH and I are working on paying off debt and we have cut back on "extra" spending. With the TSP contributions it adds up to about $550/month. I am thinking we could use that to pay off some of our debt and once it is under control start the contributions again. Has anyone done this before? Any suggestions for or against this idea?
BFP #1 11/07/2012 EDD 07/09/2013 M/C 11/22/2012

BFP #2 02/05/2013 EDD 09/19/2013

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Re: Paying off debt and TSP

  • Don't do it! You'll miss out on gains in your TSP! Very seriously, retirement contributions are the very last thing I'd cut to pay off debt, and we paid off 25k in the last couple years. Post your budget on Money Matters, either here or in the other new place that I shan't name for fear of angering some mod somewhere. They'll find you money to help yourself without losing out on retirement. 
    I've seen a lot of military surprise homecomings. It wouldn't work on me. I always have my back to the corner and my face to the door. Looking for terrorists, criminals, various other threats, and husbands.
  • imageWishIcouldbeinthe'stan:
    Don't do it! You'll miss out on gains in your TSP! Very seriously, retirement contributions are the very last thing I'd cut to pay off debt, and we paid off 25k in the last couple years. Post your budget on Money Matters, either here or in the other new place that I shan't name for fear of angering some mod somewhere. They'll find you money to help yourself without losing out on retirement. 

    lol @ the bolded :-)

     

    And thank you for the advice. I will check it out.

    BFP #1 11/07/2012 EDD 07/09/2013 M/C 11/22/2012

    BFP #2 02/05/2013 EDD 09/19/2013

    Lilypie Angel and Memorial tickers

    Lilypie Pregnancy tickers

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