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My employer offers a very generous 6% 401K match so I contribute 6%. They recently announced that, due to COVID, they are cutting the match to 3% until the end of year and plan on going back to 6% in January.
My husband and I are working to pay off debt using the snowball method. We have about $23K in debt between credit cards, a car, and a student loan. Should I cut my contribution to 3% and put the extra money towards debt or should I keep it at 6%? Our budget works with the 6% and we are not struggling but I REALLY want to be debt free ASAP. But it seems like a not great idea to cut my investments with the market where it is. Any input would be appreciated!
ETA - my husband and I both in our early to mid 30s
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- 4 years ago
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