I'm 30 and just got a job that offers a 401k. I have no retirement or savings beyond what I am about to be enrolled in. I am trying to decide if I should increase the amount of contribution to the 401k, lessening my take home pay. Or, should I increase take home pay by either not contributing or contributing very little so that I can use the extra take home to pay off credit cards. All my credit cards have high interest rates, but I only owe $7300 total. With diligence I could easily pay them off in a year or less and then increase or begin contributing. However, I'm also faced with my other debt which I need to pay off, school loans and a couple smallish auto loans. Company will match 50% up to a max of 3%. I was thinking of about 6% which should only be about $170 less per pay check according to the internet calcs.
So I guess the real question is: Should I pay off the debt fast and quick, or save for retirement right away?