Comments on: Should You Sell Investments to Pay Off Credit Card Debt? http://www.doughroller.net/credit-cards/sell-investments-pay-debt/ Money Management and Personal Finance | The Dough Roller Sat, 21 Nov 2009 01:10:27 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Pay off debt or invest? http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-15323 Pay off debt or invest? Fri, 09 Oct 2009 08:02:44 +0000 http://www.doughroller.net/?p=1024#comment-15323 [...] Roller: Should you sell investments to pay off credit card debt?: I won’t quote from this article because DR has presented some options and things to consider, [...] [...] Roller: Should you sell investments to pay off credit card debt?: I won’t quote from this article because DR has presented some options and things to consider, [...]

]]> By: 3d7r5g0 http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-11289 3d7r5g0 Thu, 26 Feb 2009 16:26:35 +0000 http://www.doughroller.net/?p=1024#comment-11289 Well, it's now February, 2009, and I think we all know what should have been done back in August of 2008. Then the Dow was at 12,000+, and nobody knew what was about to happen. If the writer had taken $40,000 out of his funds back then, he would have paid off his debts, and been done with it. The best strategy is using the market to your advantage and knowing when to use that money while it is there, because as we all know now, it can be evaporate almost overnight in a crash. Well, it’s now February, 2009, and I think we all know what should have been done back in August of 2008. Then the Dow was at 12,000+, and nobody knew what was about to happen. If the writer had taken $40,000 out of his funds back then, he would have paid off his debts, and been done with it. The best strategy is using the market to your advantage and knowing when to use that money while it is there, because as we all know now, it can be evaporate almost overnight in a crash.

]]> By: Improve Your Finances Instantly with this One Simple task http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-9374 Improve Your Finances Instantly with this One Simple task Wed, 24 Sep 2008 02:11:47 +0000 http://www.doughroller.net/?p=1024#comment-9374 [...] transfer credit cards: Recently I wrote about whether one should sell investments to pay of credit card debt. My plan is to move the debt over to 0% balance transfer credit cards. I applied for and was [...] [...] transfer credit cards: Recently I wrote about whether one should sell investments to pay of credit card debt. My plan is to move the debt over to 0% balance transfer credit cards. I applied for and was [...]

]]> By: Llama Money http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-9179 Llama Money Fri, 05 Sep 2008 15:18:59 +0000 http://www.doughroller.net/?p=1024#comment-9179 As long as you can keep floating the debt at 0%, I say stick with it. I would personally chuck the funds to pay it off, but I'm uncomfortable with any credit card debt. It sounds like you're ok with it, as long as it makes numbers sense. At 8%? I'm out. Pay that stuff off ASAP. But at 0%.... no rush to pay it off really. As long as you can keep floating the debt at 0%, I say stick with it. I would personally chuck the funds to pay it off, but I’m uncomfortable with any credit card debt. It sounds like you’re ok with it, as long as it makes numbers sense.

At 8%? I’m out. Pay that stuff off ASAP. But at 0%…. no rush to pay it off really.

]]> By: DR http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-9099 DR Fri, 29 Aug 2008 10:00:42 +0000 http://www.doughroller.net/?p=1024#comment-9099 Scott, as happy as I am to be putting $1k a month toward my debt, it will still take a long time to pay it down. But the debt was for work on our home, so I shouldn't expect to pay it off quickly. Scott, as happy as I am to be putting $1k a month toward my debt, it will still take a long time to pay it down. But the debt was for work on our home, so I shouldn’t expect to pay it off quickly.

]]> By: Scott @ The Passive Dad http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-9098 Scott @ The Passive Dad Fri, 29 Aug 2008 07:29:45 +0000 http://www.doughroller.net/?p=1024#comment-9098 You are fortunate to have the option to utilize your home equity. Many don't have this option or have exhausted the heloc resource. Plus you would get a tax break as well. I would sleep better at night with paying off the debt completely. The fact that you can put $1k a month towards debt is fantastic and you should feel pumped about that. You are fortunate to have the option to utilize your home equity. Many don’t have this option or have exhausted the heloc resource. Plus you would get a tax break as well. I would sleep better at night with paying off the debt completely. The fact that you can put $1k a month towards debt is fantastic and you should feel pumped about that.

]]> By: Moolah http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-9067 Moolah Mon, 25 Aug 2008 20:56:43 +0000 http://www.doughroller.net/?p=1024#comment-9067 Toughlove is right, you should never risk your money in investing if you have to pay off debt. You should pay down you debt, and then start investing. Toughlove is right, you should never risk your money in investing if you have to pay off debt. You should pay down you debt, and then start investing.

]]> By: DR http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-9014 DR Tue, 19 Aug 2008 21:35:59 +0000 http://www.doughroller.net/?p=1024#comment-9014 Jim and Toughmoneylove, let's assume you have $100,000 in mutual funds in taxable accounts, and you want to remodel your kitchen at a cost of $80,000. Would you sell your investments to pay for the remodel, or take out a home equity line of credit? Jim, this may fall into your category of mortgage debt, but with different numbers, this is the situation my wife and I faced last year. We took out a home equity, much of which I have now financed on 0% credit cards. Jim and Toughmoneylove, let’s assume you have $100,000 in mutual funds in taxable accounts, and you want to remodel your kitchen at a cost of $80,000. Would you sell your investments to pay for the remodel, or take out a home equity line of credit? Jim, this may fall into your category of mortgage debt, but with different numbers, this is the situation my wife and I faced last year. We took out a home equity, much of which I have now financed on 0% credit cards.

]]> By: jim of Blueprint for Financial Prosperity http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-9013 jim of Blueprint for Financial Prosperity Tue, 19 Aug 2008 19:55:56 +0000 http://www.doughroller.net/?p=1024#comment-9013 I'm with Toughmoneylove, you have to pay off your debt before you even think about investing unless it's student loan or mortgage debt. I’m with Toughmoneylove, you have to pay off your debt before you even think about investing unless it’s student loan or mortgage debt.

]]> By: DR http://www.doughroller.net/credit-cards/sell-investments-pay-debt/comment-page-1/#comment-9004 DR Sun, 17 Aug 2008 22:57:02 +0000 http://www.doughroller.net/?p=1024#comment-9004 ToughMoneyLove, great questions. First, I do have cash flow to pay down the debt. Right now I'm paying the debt down at a rate of about $1,000 per month. My goal is to keep the debt on 0% offers (if possible) until I can pay it off. I suspect that my $1,000 per month pay down rate will go up in the next year to perhaps as much as $2,000 per month. ToughMoneyLove, great questions. First, I do have cash flow to pay down the debt. Right now I’m paying the debt down at a rate of about $1,000 per month. My goal is to keep the debt on 0% offers (if possible) until I can pay it off. I suspect that my $1,000 per month pay down rate will go up in the next year to perhaps as much as $2,000 per month.

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