Quote:
Originally Posted by chemgear
So you're basically borrowing all the money you can from your credit cards (at 15% to 20%+ a year) to invest in your 20's?
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Most definitely not a good idea. Why borrow at 20% if your investments only make 5-10% on average. Simple really. No math required.
As always, do the debt snowball - list all your debts and interest rates and most aggressively tackle the highest interest rates first. When done that first move to the 2nd highest, then 3rd, etc... and don't forget to pay your future self as well. And no harm with debt-consolidations as long as you don't overall increase your interest, and you don't p*ss away the "extra" money, and you stay diligent and focused.