Every Sept. 1 we get a .03% cost of living raise at Job #1 (I doubt I'll get such a perk at Job #2!). Last year I took advantage of the extra $ to raise my retirement contribution. Now I will raise it again, but I'm not quite sure when exactly to do it or how many more percentage points to raise it up to. Basically I'm trying to decide if I should raise it another .02% or .03%. Also, I'm debating raising it next week, or waiting 1 pay period to do it.
I like the idea of raising it another .03% for lots of good reasons.
- More retirement $ for me!
- Lower taxes paid to Uncle Sam!
- repeat the above ad nauseum as it is a wonderful, win-win situation for me.
However, lord knows if I only raised it another .02% I'd have some extra $ to apply towards our court case debts. Although, would I really have that much more $ b/c my tax bill would also not be as low? Plus, if my paycheck changes significantly lower I'll have to redo my entire budget.
What I will probably do is raise it another .02% and wait to do it until the middle of the month. That is b/c I would enjoy 1 big paycheck which I will use to make a big payment to one of my CC's. Psychologically, it will be good for me.
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