Currently I pay approximately £200/month into my pension. I am really struggling financially and desperate to get rid of my £5k personal debt (OD, CCs and a loan.)
I know I'm only intending teaching for another 10 years max (I'm 28) and I genuinely don't know what to do. I'm considering opting out of the TPS and starting a private pension, which I've yet to research. I would then start by only paying £100/month and use the other 100 to get rid of the debt.
Has anyone done this? Can anyone think of any reasons why this isn't a good idea?
Thanks