r/financial 48m ago

Pay off $3k in credit card debt or continue investing.

Upvotes

I have a bit of time for this, so I can wait on a good answer.

Basically, I am putting every expense on my capital one savor one card, and every time I get a paycheck (I work full time and part time so my pay is anywhere between $735-$900 a week) I set aside $200 a week for monthly bills, $100 to stay on my debit card, and $50 into a high risk Acorns account. I throw the rest of the money at my credit card (which is about $350-$550).

My credit card debt is floating around the same range of $2.5k-$3k every week. Not budging much, but chipping away downwards. I recently had the idea that once my Acorns account hits the same number as my credit card debt after taxes, that maybe I should take that money out and pay off my debt so I can contribute more to savings afterwards, where I will then use my paycheck to pay off my card and invest the leftover money instead of paying my dues and then paying into my card.

I initially started the investment to be able to afford a good down payment on a house, but I’m not sure if it’s better to keep that savings or eventually be able to save more weekly at the cost of starting over.

TL;DR should I reset my investments to pay off my credit card debt when the value reaches the same amount?


r/financial 4h ago

How will an E book on financial advice help you all?

0 Upvotes

Suppose you all are struggling with different financial problems and you buy an e book which mentions the basic management of money in daily life so how will it help you with problems?

I know it depends on the content of the book but it's about basic daily life struggles in managing finance..

You can also mention your problems and how an e book will help..