Pay consumer credit first or save money?

[Kamenin Earl Banks]

Hi everyone! I need some advice. I just read Sott Trench's "Set for Life". It was a great book and I am going to follow his ideas. But I'm struggling with deciding whether I should pay off my consumer debt first or save to have my cash reserve for my first investment opportunity. I want to have the cash so I can stop missing potential opportunities. What do you all suggest?

[Ashish Acharya]

Originally posted by @Kamenin Earl Banks:

Hi everyone!

I need some advice. I just read Sott Trench's "Set for Life". It was a great book and I am going to follow his ideas. But I'm struggling with deciding whether I should pay off my consumer debt first or save to have my cash reserve for my first investment opportunity. I want to have the cash so I can stop missing potential opportunities. What do you all suggest?

 If you are paying 20+% interest rate, then you are better off paying off your credit cards. 

That would also help you with your credit scores when you are ready to refianace house.