I spent an afternoon checking on my federal TSP (401K) and making some financial decisions. I just paid off a general loan and checked out my current options. I am eligibe for a home loan up to 47K. I've decided to take out another general loan when I'm eligible in September to pay off ALL my credit card debt. The figures look like this:
Bi-weekly payment $207.00
Bi-weekly Income: $1,579.36
Monthly Expenses & Loans: $1,367.07
Total Remaining Monthly Income: $3,187.61 – $1,367.07 = $1,820.54
Then I am planning to put some money into savings and a downpayment on a condo/townhouse.