Hello all,
I am an O-1E, currently PCS’ing from tech school to my new base. I am curious about what I should do with my surplus cash each month. Here is my situation:
No consumer debt (no cc, no car loan, etc)
I have about $40k left on starter loans at 2.99%
Closing on a house at a 5.625% that’s well under BAH
Already contributing 5% to TSP for match
I have a mortgage from my previous base at 2.875% but it’s being rented out for much higher than the payment
I have $40k on a family loan at 5%
After minimum payments and bills and everything I will still have an extra ~$1500 each month that is just available to be used wherever is most efficient.
So once I have a sufficient emergency fund saved up where should I put the money? Pay off one of these debts faster? Extra into TSP? Or put it into another investment?
Any help or insights would be greatly appreciated! Thanks in advance!
Where should my extra money go each month?
byu/zackh912 inMilitaryFinance
Posted by zackh912
1 Comment
Why is your TSP Contribution so low?