Topic: in debt but want to invest. - page 6. (Read 980 times)
As a person who has had problems with debts, I will say that first you need to pay off the debt. I do not know what country you are from, but a bad credit rating can greatly ruin your life. And let's be honest, the money taken on credit is not your money.
It depends on the income you have. This can be done if you have enough income for you to divide into 3,
- family/self needs,
- installments to be paid and,
- investment.
It depends on who you owe, if the payment isn't a haste thing or let say you are given enough time to pay back then you can DCA in your favourite coins and pay back your debt slowly.
right now i’m in debt for $6k but i want to keep DCA. should i focus more on pay my debt down or investing?
The best course of action is probably to repay all your debts before you proceed with new investments, but that can depend on who you owe. Is it a bank or a credit card company? What is the default interest rate on your debt? Are there any repercussions if you don't pay them on time? These are all things to consider. But, generally speaking, repaying all your debts before you move on with your life is preferable.
I would say that you should be focus on that to pay off your debt first as noorman0 has written already.
If you paid of all then you can think about to invest in anything you want with the rule " Just Invest that much what you can afford to lose "
Playing with money thats not yours is not good and leading to more problems if you losing it .
If you paid of all then you can think about to invest in anything you want with the rule " Just Invest that much what you can afford to lose "
Playing with money thats not yours is not good and leading to more problems if you losing it .
Do both. Split your wages for paying debt and invest as well. Totally stopping paying debt could anger your lender and totally stopping investing is not a good idea as well.
Another piece of advice does not sell your BTC to pay the debt. It's not a good idea to sell your assets this way. Instead, invest your assets somewhere to earn some passive income and use that income to pay the debt. In my opinion, assets should only be sold to make more assets other wise you are just wasting your assets.
Another piece of advice does not sell your BTC to pay the debt. It's not a good idea to sell your assets this way. Instead, invest your assets somewhere to earn some passive income and use that income to pay the debt. In my opinion, assets should only be sold to make more assets other wise you are just wasting your assets.
Pay off your debt first, the borrower needs the money more than you know. This is not just repaying a debt, but repaying the kindness of people who have been willing to give their trust.
Another general advice, don't invest anything from borrowed money. The current position, you are doing that.
Another general advice, don't invest anything from borrowed money. The current position, you are doing that.
right now i’m in debt for $6k but i want to keep DCA. should i focus more on pay my debt down or investing?
Jump to: