IRA or Credit Card Debt Reduction?
I have approximately 40,000 in credit card debt. I recently consolidated my debt, and have only two cards with high balances, but low interest. Most importantly, I have have stopped using my cards. I try to pay about 1200/month on my cards.
I am vested in my state retirement sytstem, and also contribute an additional 600/mo to an IRA. I'm wondering if it would be better to stop my IRA contribution, and instead use the money to pay down the debt.
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