Hello Strangers. Postal worker here. I have a loan out for roughly 16k. I pay $256 per check. Have 61 payments left. I contribute 11% to the tsp currently. To make extra payments you have to pay at least $256. Times are tough. Here's my thought. Should I cut that to 5% so I keep getting the match. That would go from $320 to $160. Take the rest of that money plus the extra needed and double my payments? Isn't the money going right back in? Am I missing something? I pay $320 plus $256 now. I'd be paying the 5% plus two payments of $256. It would be more plus cutting my loan in half. Does this make any sense? Thanks for any input.
u/EducationalFortune86 — 9 days ago