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Updated almost 7 years ago on . Most recent reply
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Credit card debt vs available cash on hand
So I’m in a bit of a dilemma, I have about 25k in credit card debt, more than half of which was used for rich dad poor dad elite education. I recently sold a home and have an extra 20k in the bank should I pay the credit cards off, or use the 20 k to invest into properties? My monthly payment on the 25 k is about $450 a month. But could be whipped out if I pay off the credit cards. If I do that I now have no leverage for deals and down payment abilities. Please tell me what you would do if you were in my shoes? Get rid of the debt , pay half of it? Other half to properties? Please let me know. I would appreciate all insight!