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Updated over 8 years ago on . Most recent reply

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30
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Lisa Jones
  • Real Estate Agent
  • Alexandria, VA
8
Votes |
30
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Investing with debt?

Lisa Jones
  • Real Estate Agent
  • Alexandria, VA
Posted

I have credit card debt, student loans and a car loan that's upside down. Between my fiancee and I that equals about a total of $56000 in debt. Should I spend time agressively tackling debt or focusing the time and money on investments?

Most Popular Reply

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10,252
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16,112
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,112
Votes |
10,252
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

I chose to pay off my high interest credit cards and car loans prior to investing.  Doing that changed something inside of me and proved I was serious.   It also freed up a whole bunch of stupid monthly payments so I actually had some money.

My renters have fancier cars and nicer TVs than I do.  They have nicer clothes and buy their lunches and fancy coffees.  I drive a beater, brown bag my lunch and brew my own coffee.  I'd rather have wealth and a library.  To be different, we have to be different than our broke friends @Lisa Jones!   

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