I have extra cash with me, should i use it for investment or use it to pay off debts? If you were me, what will you do?
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I have extra cash with me, should i use it for investment or use it to pay off debts? If you were me, what will you do?
If you have debts to pay, i think it would be better to pay off does debts before doing anything else. I have been in a situation like this before, and speaking from experience, i decided to invest the money hoping i would get enough profit as returns that i would use to pay off the debts and stillRead more
If you have debts to pay, i think it would be better to pay off does debts before doing anything else. I have been in a situation like this before, and speaking from experience, i decided to invest the money hoping i would get enough profit as returns that i would use to pay off the debts and still have some extra cash. In the end i could not get any real profit and still could not pay off the debt.
See lessIf I were you, I would consider how much time I have before the repayment date for the debt. If I still have time, I will invest the money. I prefer investment because it makes money grow and I can have enough to pay back the loan and continue with the investment. Though you should also check how loRead more
If I were you, I would consider how much time I have before the repayment date for the debt. If I still have time, I will invest the money. I prefer investment because it makes money grow and I can have enough to pay back the loan and continue with the investment.
Though you should also check how long it will take you to get profits from the investment. It might be longer than the repayment date, you wouldn’t want to get high interest rates because you are in a hurry to invest.
See lessThe decision to invest or pay off debts depends on your financial situation and goals. Generally, it's wise to:Pay off high-interest debts: Prioritize paying off debts with high interest rates, as they can cost you more in the long run.Build an emergency fund: Ensure you have some cash set aside forRead more
The decision to invest or pay off debts depends on your financial situation and goals. Generally, it’s wise to:Pay off high-interest debts: Prioritize paying off debts with high interest rates, as they can cost you more in the long run.Build an emergency fund: Ensure you have some cash set aside for emergencies before investing.Diversify investments: If you have manageable debts and want to invest, consider a diversified approach to manage risk.Consult a financial advisor: They can provide personalized guidance based on your specific circumstances.
See lessThis is a great dilemma indeed, pay off debts or invest. I think you should consider the kind of debt you have. If it is one that has high interest rates and will keep on accumulating, then you better pay before you wait and pay double. In the instance that the loan dies not accrue interest or the rRead more
This is a great dilemma indeed, pay off debts or invest. I think you should consider the kind of debt you have. If it is one that has high interest rates and will keep on accumulating, then you better pay before you wait and pay double.
In the instance that the loan dies not accrue interest or the repayment date is still far, you can invest the money. Make it grow then you can have enough to pay off the loan and still remain with some money.
See lessIf an individual have extra cash left in his or her account or wherever he or she keeps it, and such individual have various debt uncleared, moreover it would be a bad idea and a bad decision for such individual to invest or even safe such amount of money, for an individual to have peace of mind andRead more
If an individual have extra cash left in his or her account or wherever he or she keeps it, and such individual have various debt uncleared, moreover it would be a bad idea and a bad decision for such individual to invest or even safe such amount of money, for an individual to have peace of mind and to be more responsibility in the future, he or she must clear any form of debts he or she owes, before actually going ahead to invest or even save money. It is definitely of yours that before you are may have borrowed the money there was a deadline attached to the repayments date. Not repaying back money as agreed, might limit to your credit worthiness in the eyes of your lenders next time you are in need of money.
See lessIf you have debt, your first priority should always be on paying off your debt. Your debt will continue to incur interest and it will continue to grow. Therefore, the longer you take to pay the debt, the higher your payable interest. Investing can grow your money but there is no guarantee that yourRead more
If you have debt, your first priority should always be on paying off your debt. Your debt will continue to incur interest and it will continue to grow. Therefore, the longer you take to pay the debt, the higher your payable interest. Investing can grow your money but there is no guarantee that your investment will give you a return or as much return as you want. Faster you pay your debt, better will be your financial health
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