Early Retirement & Financial Independence Community - View Single Post - Should I pay off these pesky credit cards???

Texas Proud · 01-13-2007, 12:50 AM

Not that you are like this... but it read this way....

Someone I know always talks about how much they have... "I got X thousands of dollars invested".. etc. etc..... but his house has been cashed out with a big mortgage... he has CC debt, (but, is at very low rate)... he would talk about his car monthly payment instead of how much it cost...

I said you don't have that money if you owe it to someone else... As long as you have a good job and are making money then pay off the CC debt... if you need the money for your 'reserve', then fine, pay them off slower, but pay them off before you invest (with the exception of getting 401(k) match....)..

See, it is hard to just say do this or do that... it matters on ALL your other options and your outlook...

01-13-2007, 12:50 AM	#5
Texas Proud Thinks s/he gets paid by the post Join Date: May 2005 Posts: 3,657	Not that you are like this... but it read this way.... Someone I know always talks about how much they have... "I got X thousands of dollars invested".. etc. etc..... but his house has been cashed out with a big mortgage... he has CC debt, (but, is at very low rate)... he would talk about his car monthly payment instead of how much it cost... I said you don't have that money if you owe it to someone else... As long as you have a good job and are making money then pay off the CC debt... if you need the money for your 'reserve', then fine, pay them off slower, but pay them off before you invest (with the exception of getting 401(k) match....).. See, it is hard to just say do this or do that... it matters on ALL your other options and your outlook...