Hi all,
Found out that I'll be getting a bonus at the end of the month that is a bit higher than expected. Gross $16K, will likely net around $9K after taxes and such. Here are some of my possible targets:
$9K balance on a 0 interest CC. Will remain 0 interest until about Sept/Oct. I have money set aside to hit this before the rate balloons, but have considered just knocking it out now. I have a little side hustle, and I set the profits aside with the goal of knocking this out by Sept, which seems doable. Trying to figure if it makes any sense to knock this out sooner even thought its 0%.
Max out the Roth for 2023 - I only have $125 contributed into it so far for 2023. Most years I hit it for about 2-3K from my tax refund, then I chip away at it throughout the year as a sort of DCA. 100% VTSAX FWIW.
$26K 401k loan @ 5%. Could take a big chunk out of this. The interest goes back into my account, so I don't feel it's as bad as other forms of debt, but I see the benefits in knocking it out early (namely reclaiming the roughly $500/mo which comes out of my paycheck).
Any thoughts would be hugely appreciated - thanks!
Submitted February 03, 2023 at 11:02PM by Hopeful-Poem8592 https://ift.tt/WxiDfHE
