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right now i’m in debt for $6k but i want to keep DCA. should i focus more on pay my debt down or investing?

Pay off your debt first, the borrower needs the money more than you know. This is not just repaying a debt, but repaying the kindness of people who have been willing to give their trust.

Another general advice, don't invest anything from borrowed money. The current position, you are doing that.

Do both. Split your wages for paying debt and invest as well. Totally stopping paying debt could anger your lender and totally stopping investing is not a good idea as well.

Another piece of advice does not sell your BTC to pay the debt. It's not a good idea to sell your assets this way. Instead, invest your assets somewhere to earn some passive income and use that income to pay the debt. In my opinion, assets should only be sold to make more assets other wise you are just wasting your assets.

I would say that you should be focus on that to pay off your debt first as noorman0 has written already.
If you paid of all then you can think about to invest in anything you want with the rule " Just Invest that much what you can afford to lose "
Playing with money thats not yours is not good and leading to more problems if you losing it .

The best course of action is probably to repay all your debts before you proceed with new investments, but that can depend on who you owe. Is it a bank or a credit card company? What is the default interest rate on your debt? Are there any repercussions if you don't pay them on time? These are all things to consider. But, generally speaking, repaying all your debts before you move on with your life is preferable.

It depends on who you owe, if the payment isn't a haste thing or let say you are given enough time to pay back then you can DCA in your favourite coins and pay back your debt slowly.

It depends on the income you have. This can be done if you have enough income for you to divide into 3,

• family/self needs,
• installments to be paid and,
• investment.

If you have at least 20% of your total monthly income that you can save or turn into free money, you can share it as investments and savings. It's small, only 10%, but at least you have an allocation for investment. Of course, paying debt is number one, but if you can still pay the monthly installments, there's no problem setting aside for investment. but investing in crypto is high risk, better to choose bitcoin than altcoin, don't forget to do own research before you decide to invest.

As a person who has had problems with debts, I will say that first you need to pay off the debt. I do not know what country you are from, but a bad credit rating can greatly ruin your life. And let's be honest, the money taken on credit is not your money.

This is an overly risky situation. We cannot tell if bitcoin will grow tomorrow or fall more. If you buy BTC and still can pay your debt as scheduled, you may be fine investing, but otherwise I'd go with focusing to pay the debt first. Else, in case of emergency, you will have to sell your bitcoins at a price you may not like.

Yes it can be risky but it also depends on a few other details which the OP has
not mentioned.

* What is the term of the loan, 5 years?
* How much is the OP required to pay per month?
* Is the OP in arrears?

I have posted before that I took a FIAT loan out and bought Bitcoin just before the
last halving and saw gains of 5x. So I would throw something new into the mix
and suggest paying off the loan ASAP within the next 12 months and then take out
another loan this time next year before the next halving and pay off the loan in total
about 12 months after the halving.

I would like to add I am NOT a financial advisor, just my 2satoshi's worth of an idea.


A safer approach would also be to do both, pay off the loan and DCA Bitcoin as others
gave posted above.

You made a pretty good list, but there's also something we both forgot about:
it's expected that all the prices will grow. So OP will have to also have some backup funds for the winter.
So yeah, not a great time to have debts. I recommend him be overly cautious.

Too risky. Highly unpredictable situation. There are so many external variables beyond your control. One the other hand, it depends on how urgent you need to repay the debt. - 1 month? 2 months? 6 months? Another factor to consider is how much you intend to DCA. This should inform your decision whether to go ahead with DCAing or straight up pay your debt.

You can continue to increase your debt using DCA only if there is 100% confidence that you will be able to repay the loan. But since there is no 100% guarantee in cryptocurrency, you need to reduce your debt and stop using DCA in order not to increase it.

Your profits from investing will only go to the interest of your loan borrowed, so for me it's only a waste of time and effort, pay off your debt first before taking another step. After all, investments will always be there. You just need the right timing when to invest so that the outcome will be most likely successful. And always invest on your extra money, not on the amount intended to pay your bills or for emergency funds.

If you have income that is high enough to allow you to settle your debt in the near future, then you might be able to afford a Bitcoin investment. Just keep in mind that your investment could go down and further strain your financial situation and it could takes for it to recover and turn profitable. What would you do in such scenario? Because you shouldn't invest in Bitcoin or any asset if you are not prepared for the worst.

If I were you, I will focus on paying my debt first. Keep investing and ignore the debt won't be a good idea, you may end up with a bigger debt. Most of the debt has an interest, "the longer the debt, the more interest to pay". If you have enough money to repay the debt, you better prioritize it, so it will be over soon. Once you have done with your debt, you can plan to have another investment. In my perception; paying the debt is an obligation, while adding a new investment is just an option.

It depends on a lot of factors that you never mentioned. @aoluain pointed out some of them but here are some more. What kind of debt it is, a bank loan or money borrowed from a family member? How are you supposed to pay it back, all at once or little by little?
I'd say if it is a bank loan and the payments are small you could still pay the loan back little by little and still buy bitcoin with any extra money you are left but if it is borrowed from someone else or you have to pay it back all at once then you should do it before you buy more bitcoin.

Keep in mind that there is always more ways to acquire bitcoin than just investing part of your salary. For example over the past 2 months I have been doing some sort of spring cleaning to sell stuff I have laying around that I don't need anymore, then use that extra money to buy bitcoin.
That way my salary is not touched and the plans I have for that are still intact, meanwhile I still buy bitcoin at the current discount in the dip.

Don't use borrowed funds to make investments; instead, make sure you have paid them back in full before making any investments in the projects of your choice. Debt-free living equates to mental tranquility.

Well, you can do at the same time. If the terms for the payment of your debt is flexible then that's a good go signal that you should start to DCA. But no matter what happens, pay your debt.

If you want to move freely, financially. Then you have to pay your debt first and DCA. Also, it depends on the amount on how much you're going to pay for it as you DCA.

Don't forget about if you DCA, don't use another loan for it.

To begin with, borrowing money is a very bad position. Whenever you take someone else's money, you have to give your own. Human psychology always slows down in repaying a debt. 
Also, a decent person should not think about investing while he has debts. You are putting yourself in a debtor's prison. Living in debt means no freedom to me. Whenever you have a situation to buy something, you will have a "sword of Damocles" hanging over your head and a reminder that you are not free. Choose freedom.

Too many good suggestions have been given to you but I will add a little by saying this, choose freedom as Lovesmayfamilis have said and pay up your debt of $6k so that you can be free and not remain in financial prison because that's what debtors are to their borrowers.
You can save up your money to invest which is the best way by so doing you won't be in any danger of embarrassment if your investment does not come out as planned. Don't forget that crypto investment is not a quick money scheme.

I will differ here having read many comments in support of you repaying the debt first before pursuing investment. I think you should invest but that will depend on the attitude of your creditor towards the money. If they aren't pressing for a repayment I don't think that will be an issue then. However, you've to make sure you keep in touch with them so as not to give them a false assumption that you aren't willing to repay it. Hopefully, your investment pays off and you can speedily off set all you owe.

I know it may sound crazy but I'd try to negotiate paying the debt. If possible I'd ask for extension, keep paying lower rates and investing whatever I can.

Money is irrelevant, the only thing you can't buy is time. Every investor will tell you that they wish they had more time and knowledge earlier on in their lives. If you had 100k loan and ignored it, took another loan and invested everything a year ago at 30k you'd still make enough to pay back everything and have money on top of it by the end of the year.
Ultimately the more bitcoin you have the better for you in the long run.

I feel this is a real life problem that you have to discuss with your family, spouse and good friends. Members in bitcointalk don't know anything about you personally, from your job to how much you earn monthly or weekly, but the people that are related to you will know about that, and they can help you to make the correct decision. Though it goes without saying that you must take the option that will enable you pay up your debt at the due time, now that option i can't know, only you and your family can.

personally, I wouldn't be comfortable being in debt. but if you are willing on taking that risk, it's your decision. I mean you could do well and be able to pay the debt and still have money left or you could lose the money and be in debt. If I were you I'd pay the debt first then invest rather than invest first, hope for the best to gain profit then pay the debt.

First rule in Crypto is to invest what you can afford to lose.
But in this case according to you, you are already indebted and what you should be doing now is looking for ways to clear that debt.

That's not a very smart thing to, to go into so much debt for any investment, including bitcoin. Sure, you will most likely profit in the long run, but bitcoin price may stay below your entry for years and you might suddenly need money/lose job etc. On top of that, we live in very uncertain times with recession knocking at our door.

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OP If I am you I wouldn't go more in debt just to continue DCA, no matter how tempting current bitcoin price is. You are supposed to use the money you don't need for everyday life and invest in bitcoin, and not the money you don't have.

Starting an investment without paying  off your debt is like carrying more  burden on yourself. Every investment has it own risk of lose, and maybe if anything happens in the market while investing that may result to lose, it can be a pressure of you thinking how to solve the problem of debt at hands and not realising a better profit from the investment.  It is better to clear up your debts first before you can plan of making an investment.

Borrowing money to invest is called leverage investing. If your investment increases in value, you win! If your investment decreases in value, you lose. Usually you borrow some and use some of your own money, so you're not in debt when the market drops. If you're already in debt, you risk getting in deeper than you are already.

You should pay your debt first before investing so you won't have problems with your debt especially if the interest is not low and I am sure you know that your debt will increase little by little until you can't afford to pay all of it. Borrowing money to invest is different situation where you borrow to use it to invest but if you are already in debt and want to borrow more to invest then that's not a good decision to make as you will be in debt more if your investment doesn't go in the right direction.

Investing is good, but from the borrowed one is not a good practice and its better to pay your debt first before investing and because we can not predict the market and also  the price of our coin sometimes lower sometime high. But from majority and experience must be better if we invest our extra money so that if the value of our investment are deeper then not just hurt unless longterm investment because there's a chance that after downward of the price there's a big increase.

Start to pay your debt first, after you're no longer in debt you can do anything that you're wanted to do. Even you're want to gambling by buying a shitcoins, you can do! though you can lose all of your money if the shitcoins get delisted on the exchanges.

Based on my experience, I never life in serenity when I'm in debt. Everyday I only think how to get more money to pay all of my debt and I never think to do trading, invest etc that would risk my money.

It took me many years to pay all my student loan debt, but I finally take on the freedom to start everything. After that I can still remember what I feel after I am free from my debt.

Start to save your money first, if you already in debt, start to pay it slowly. Don't ever do anything that would risk your money since you can lost it all. If you have a good job, you can save money to pay your debt faster. If you don't have a job that can pay your bills, then you need to make your work harder like doing freelance more than before. Do not spent money that you don't have because if you owe a lot of money with high interest rate it will take years for you to pay off your debt.

This was what I was thinking after the part you quoted from darkangel11's reply. To add it up, it was a year ago and we are not sure how Bitcoin would fare at x amount of month/years. It would also suck to pay your debts from your earnings from crypto considering it would be a long-term investment as well. Just imagine all your returns just going to pay all your debts instead of having something to keep for your own wants if not needs. Another thing worth to mention is that it would also suck to be buried in debt. I heard a lot of tragic stories in Trading Discussion board about OP telling a story about his friend took his own life due to debt. It is a sensitive thread/topic to talk about and I do not want to get too much further into it.

Clear off your debt first so you have a free mind while investing. It is bad practice not to pay off debt on time, If the people or cooperation you owe money find out that you are making plans to invest rather than try to pay off your debt with them first, they will not be glad.

Like some other users have said, it depends on who you owe, and even at that, you have to find out from the person whether he or she won't be needing the money anytime soon.

But if I were you, I would throw my weight at paying off the dept first, and it doesn't matter who I am owing, I am one person that hate being in dept to anyone, it ties my emotional freedom and peace of mind down.
So personally, I would advice you focus more on paying off your dept, you can invest little by little, but really pay more attention to paying off your debts, and when you do, you will have peace of mind, and will also make you allow your investment to grow, instead of selling untimely to pay off the dept.

You can do both but it depends on the debt time limit, how you are to pay, and your weekly remunerations. If there's no room for you to pay the debt and also invest in crypto. I will advise you to settle the debt first.
You still have plenty of time to DCA before the end of this year.
 

What is your financial condition right now?
the wisest thing to do is exactly pay for debts although it is done several times regularly in monthly or another tme period.
However, if you can save more money outside of paying the debts, and you can really manage your money very well and wisely, you may also do spending some of your salaries as free money to invest in Bitcoin and use them for long-term investment. But if you can't split your money, focus at first on your debts, because whatever, debt is your responsibility to pay. Trust me, if you have end your debts, your life will be much better

Do not invest in a state of necessity. If there is something that needs to be paid off, pay it off first.
You need to clearly state the meaning of the debt such as the time period, the amount of interest per month so that it is easy for anyone to understand who reads it and so that you can get a solution to every answer given in this thread so that you can use it as a solution to the problem you are facing.
If the debt you have is approaching the time of repayment, then in my opinion, don't invest.

If you want to invest outside the burden of debt, you must be able to minimize income with needs, the rest please use it to invest.

Hopefully there is a solution for you.

You don't invest money that you don't have. If OP is in debt of $6000, he should focus on returning and honoring that contract first. Debts don't disappear. Instead, they become bigger. What is $6k today can become $7k tomorrow if you are not careful.

Are you suggesting staking and similar irresponsible activates? Whoever has followed what's been happening on the crypto market in recent months will know how dangerous such platforms are and they ought to stay away from them.

I agree that to give an answer that can help, we should know more details, such as the amount of the monthly payment, the term, or the annual rent.

It is not the same to have to pay 100 USD per month with an income of 100,000 USD per year as 300 with an income of 30,000 USD.

But in general I agree that it is better to avoid debt and get rid of debt before investing.

If the debt can be repaid in parts, then you can pay the debt in parts. At the same time, there should be enough money left to buy food, pay rent, etc. If after that there are free funds, then you can think about investing them.

Why will you be in debt and you will be planning to invest, the first thing you should do is to pay off your debt, how will feel when you know you are having debt to pay off, my own opinion is you should pay your debt and you will invest later, how will you feel whenever you see the person you borrowed the money from am sure you won’t be comfortable and you won’t be happy, is better you Pay off your debt and free yourself from unnecessary embarrassment, you can invest later and no time is late for investment.

Primarily, in a situation like this, it take time to take decision, because i know quite well that investment is nice ideas and to clear your debt is also a nice ideas. But the problem is that you have to think of, if the investment goes wrong your debt will remain for you. And if you make it through investment, it's of your luck. But from my perspective clear your debt first before thinking of investment. Because what i will advice people is to use their spell money for the investment.

I guess the debt is one that is not pressing you on the neck, if it a debt that can cause damage to you, I don't think you would plan to invest without paying the debt. I would advise to pay any outstanding debt before any investment.  One of the quality of a good investor don't owe to invest, expecially cryptocurrency.

That's really funny how will you be on debt them you are still planning to invest, you better clear your debt then you can invest, it those not make any sense for you to invest and you are having debt to settle, if you don't pay back on time definitely if you need money another time the person won't want to borrow you, I think it's better you protect your reputation, pay back your debt and invest later. If you pay your debt and you are still having extra cash remaining then you can now invest and you will have rest of mind.

I actually think that this is based on individual differences. I haven't been in a debt before and that is my greatest fear in life. I have this kind of natural pride in me that will reduce to zero if I am indebted to someone. If I were you I will not even eat well let alone talking about investment when I am in debt.

Be it from friends, relatives or institutions, it is a debt and it is a mini prison if you do not free yourself from it. Unless you are ready to forfeit your collateral or you are willing to betray the trust if it's from relatives.

Clear your debts and free yourself

Same thoughts, KingsDen. It feels good to at least not having the liability to pay someone. Knowing that all your net profit is all yours and nothing will go to payment of your debt.
This thought of mine came from when I usually pay my bills monthly and I admit that I feel sometimes unsatisfied knowing that a portion of my earnings would go to payment of bills, but hey I would not be able to work if I did not pay my usual monthly dues.

Going back to the topic, if one would go for loan or borrowing money, at least make sure that the money would indeed guaranteed to be paid back at its due. I kinda feel bad to those people that got buried in debt from their stories in Reddit.

Have a good conscience to repay the money borrowed to you first. The person that released such money or maybe those different people will be in need of it except you ask for their permission to continue holding the money or trying to reinvest the money and to invest it you don't have guarantee to get the profit from it. My opinion is don't play on the intelligence of those who gave you money during the time of your need, you may still have some needs on that in the future and they won't render it if you don't repay what you borrowed from them. They say one good turn deserves another and you are not sure of profit from the investment.

Settle with your current debt first, and when you’re done repaying, that’s the perfect time to venture into an investment. But always DYOR first on your prospect investment so you won’t end up falling into wrong investments that will only waste your money and effort. As there are risks associated in every investment, the reason why you have to be very careful and just invest a portion of your hard-earned money, not the borrowed ones.

Pay your debt first. That must be your first priority. Is it a good debt or a bad debt?

Debt will make you stressed and then there will be a time that you will be depressed if that debt keeps increasing because of compounding interest. Forget DCA first and focus on paying your debt. After that, focus on doing DCA.

In that way, that would be better for you. Your main problem will be solved (debt problem) and at the same time, you will manage to do DCA without thinking of paying your debt anymore. I've seen people here in my place that can't invest their money because all of their salary goes out to pay their debt and the cycles keeps going which is very unfortunate.

Alot of people have come with alot of opinion, to me I think your should pay off your debt first not because it bad to invest when you owing someone but this person showed up for you when you really needed the money, so it will be kindred to repay him when you can now. Your investment can go wrong and you will still be owing him, so pay him off now and then invest when you can.

Pay your debt first before investing in anything, it's for your own sake, you will have a peace of mind, investment is also risky so you don't want to do that while paying off a debt, you might get frustrated easily.

Yesterday I approached this topic aggressively, I just re-read and understood I was somewhat aggressive. Why I reacted that way was because of the experience I had of my in-law. He is a retired civil servant who borrowed money for many things waiting for his retirement benefits or gratuity to repay. When the gratuity came, instead of him to clear the debt he started renovating his house and making other expenses. I was so much upset at what he did. So, when I read this topic, it occurred to me that I might be seeing a second version of my inlaw.

I felt bad seeing this, didn't you consider safety and risk management into precautions? This is one of the first thing you do before entering into crypto trading, buying and selling.
If the lender can extend the duration of your loan, if you pay back the loan now, there wouldn't be any way to get back the losses you have had and you may be stranded a while. Tell him to give you more time and use that opportunity to buy more good coins at low prices and sell at high price, if you make more profits then you can now pay back the loan you have carried and everything balance.

No, this isn't a good idea and he definitely shouldn't do that. The last thing OP should do is to invest more in cryptocurrencies, he tried it and failed. Besides, we are in a bear market and there are no guarantees the market will recover before the payment day. Investing more will likely make things worse and OP may find himself unable to repay the loan.
Right now the best and the right thing to do is to focus on repaying the loan.

Focus on paying debts, meaning the OP must sell investment assets in a down state. This is really a polemic that often happens to traders who do not consider the risk of debt for trading or investing. But I never felt comfortable investing with borrowed money or debt, this I never did even though at the same time I had the opportunity to make a profit.

Some people do not care about the risk of price fluctuations so that sometimes it is very extreme to sell valuable goods just for trading or investing. Some do take out loans, but they don't really understand how the market works for them. Finally, loss is the most realistic thing for them because the debt repayment deadline is coming soon.

Anyone who has ever encountered a debtor who spends money on anything but does not repay his borrower may react aggressively to the story in this thread. It is the majority of those who recommend paying off the debt first who have this unpleasant experience. Personally, I have a negative attitude towards such individuals because of their irresponsibility and unwillingness to fulfill their obligations. Therefore, if OP listens to my words, then I can only say that he first needs to pay off his debts and only after the full repayment of debts think about investments. In order to better "feel" the situation, he should put himself in the place of the borrower. That's when, OP will not be repaid debts for a very long time or will never be returned at all, then he will not have a dilemma "return $6k or to keep DCA".

Focus first on paying completely your debt, that way you will not be bothered at all whatever the result of your planned investment. As much as people would want to seize every opportunity to invest and generate profits, but that also comes with right timing and best entry to invest. Otherwise, you will waste all your money and effort because you did investments at a very wrong time. DCAing for bitcoin is good, but you can’t focus on it if you have not settled with your previous loan, so pay it first.

OP's main mistake was investing in cryptocurrencies with borrowed money. Crypto market is totally different from any other market, you may make huge profit as you may suffer huge losses. Investing in it (especially in new coins) is so risky and this is why members here always advise to "never invest/gamble more than you can afford to lose". What is done is done and all OP can do right is to try to make things right by selling his coins, even at low price, and repay part of the loan.

If you want to live peacefully and not be bothered, then never resort into another venture unless if you have done already with your first venture, and that is getting rid of debt by paying it first before its high interests will suck you. After that, then you are free to invest as long as you always invest an amount you can afford to lose.

Learn to be responsible on paying your debt because you also benefited from it before, and now it’s time to pay it back completely. And once you have fully paid it all, it will also bring a feeling of relief on your side. Then it’s time for you to freely start on your plans, if its investments then it will be good for you. Save first before you invest, so that if everything ends bad in the start, at least you have no one to pay and there’s no big regrets as you only invest on your extra money.

That is pretty much understandable considering that you had related personal experience with it. Surely when a large amount of money arrives and one has a debt, it should be expected that repayment of the debt should be next. I would somehow react the same way regardless especially if we are talking about large amounts in here.
I would be hella mad to my relatives for such decision like that. Good thing that he did not ask you to pay at his own end in that scenario, since I heard some horror stories of relatives wanting their close ones to pay their debt in exchange of something of "sentimental value" they though.

Taking debts will somehow be good and profitable in some valid reasons. However, when it comes to investing, particularly in crypto which is associated with high risks, you can lose them everything if you are not cautious on your part and you’re not skilled yet in making investments. So never invest from taking debts, as much as possible save first before you decide to invest. Because you will never know what will happen in your investments when the market becomes not profitable anymore.

Please pay your debt first. Investing in crypto is very risky. Do not borrow money thinking that crypto will help you pay the debt and the borrowed money and earn some extra bucks. That’s too big of an aim since you are new. Focus on learning and before taking a risk. But before that, get rid of your debt please.

You don't know how investing gonna work out, pay the debt first.

I would love to know the horror story where someone would be obliged to pay another's debt for some sentimental values or reasons. I am trying to imagine the nature of the story but I can't actually figure out. Maybe it could be some inheritance or wills related issues.

However, I have given my verdict in this post, if he wants to keep investing, it's left for him, now that the market is moving from bear to bearer.

If you hear me then I will suggest clearing your debt first. I never suggest anyone invest in cryptocurrency by borrowing money. So it's the same as if you invest in cryptocurrency when you have a debt to pay. Only invest you can afford a loss, sometimes some crypto becomes Zero. Likely you heard about the Luna crash. So investing in cryptocurrency when you have debt could through you hell. Everyone here will leave their own opinion actually. You have to take the right decision which is fit for you. We aren't your financial advisor anyway. 

From my own experience you definitely gonna be on pressure on a norm, investing while indebted to someone.However it would have make more sense if you tell us terms involved with the repayment of this loan,  which equally involves the duration at which you gonna pay back this loan, so from there we will able to tackle this properly with the right suggestions. For instance,If you have like 2,3- 5 years time period to repay the loan, it's fine DCAing in Bitcoin and until that time frame, hopefully you gonna have good returns and will be able to pay back your loan.

In my opinion, you should pay off your debts first in order to focus on investing with your remaining capital, because if you invest in cryptocurrencies, there is a possibility that you will lose the capital that you have and you will not be able to pay off your debts until after you collect the money again, so you have to end this debt as soon as possible because the person who lent you money does not deserve to wait for you long, and my advice to you if you decide to invest after that, invest in what you can lose, and you should know that crypto does not make it easy for you to get rich quickly. You have to work hard and learn first and stay away from borrowing money again.

I read those "horror stories" around Reddit though it usually is not crypto-related, but you'll see it there usually in r/personalfinance.

Jeez I can imagine a lot of gaslighting and upbraiding like "I helped your father, brother, sister out of poverty and you should be grateful for that in the first place and I even fed your pet goldfish" and you are left with no choice but to do as they say especially when they are just residing near your area. It feels being trapped to something you did not even asked for.

I also appreciate you sharing your experience in your previous reply by the way.

no matter how close the lender is to the borrower investing in a risky asset with a loaned fund is the worst risk to take. As it stands no one can accurately tell what direction Bitcoin will take at any moment and what if even applying DCA price keeps plunging and the lender decides to demand for the fund with a matter of urgency. Paying back is best even if it means paying gradually

He ignored the fundamentals of crypto investing when investing with borrowed money.
Yes, he should sell all his crypto assets to pay that loan instead of continuing to borrow to invest more, the market is uncertain so it will be a burden to continue borrowing to invest even if that's bitcoin.

@OP, you should focus and find a way to pay off your debt before you want to invest. Once the debt piles up, it will put a lot of pressure and make you no longer awake enough to make the right decision.

Well, $6k may be relatively little depending on his income, but he doesn't give more details.

You are right in what you say from an accounting point of view, but it is something that is done a lot these days. How many people pay a mortgage and also invest? It's not crazy in this case. There are also people who have personal loans and invest.

I personally prefer as you say, to get rid of all debts and then invest, but if the debt ratio is low in relation to your income, it is something that can be done.

Not a good calling, try to pay your debt first before investing in crypto and also know that crypto investment is not guaranteed, here is a good strategy if I am in your shoes, every 2$ spent on BTC like every day will worth a lot in future, can you afford 2$ per day while paying back your debt?. This is the best plan I can come up with.

Paying the debt first will probably be the right thing to do, but i don't think OP wants to use the returns from his investment in crypto to pay his debts, OP did not give us more details on what his situation is, but i don't feel the situation here is that OP wants to borrow money, and then use the money to invest.

I feel OP is already in debt, and he wants to use the money he is earning to invest rather than pay back his debt, his idea may not be too bad, but again he does not give too many information about himself and what he is earning, if he is earning enough to enable him invest and later pay his debt, then he can invest now and pay his debt later, but that is for OP to decide with his family, and not for us, because we know little of OP and what he earns or how much he makes from his business.

OP stated "focus on paying the debt", it means he wants to pay the debt. I think it is very clear that OP has money but he is not really sure whether to pay the debt or buy some crypto coins. However, since he is still in debt, I think OP should focus on paying the debt. Just invest when he already pays all the debt. Ignoring to pay the debt may rise a problem in the future, he will pay bigger because of the interest on the debt.

In truth, I have to scan through the 4 pages so far in search of OP's response to the series of response in suggestions, advice and questions that this thread have gotten and sadly, i couldn't find OP anywhere aside from creating this thread. This makes me question if:

1. Is OP really giving this thread any attention as we wish to believe?
2. Are the questions unnecessary?
3. Are all or some of the suggestions satisfactory or perhaps non yet?
4. Is a response totally unnecessary for the suggestions thus far?

I have what I would have loved to say but, I don't know if you @OP is even following and it would be of no use, for OP at least.

Many people have agreed and suggested that loans are not a good thing to invest in if you are caught in a large amount of debt, I think it needs to be paid off so that your DCA does not become pressured because DCA is long-term if the loan is allowed, the interest will swell and that's why even more frustrating.

I think that debt needs to be repaid because if it doesn't have a high interest rate, it's better to postpone your DCA investment and focus on paying off the things that put you under pressure, because I think any investment can be done as long as you are free from loans and it will make you feel better. Your DCA is even more comfortable.

I have also started a new DCA recently but still not accompanied by any loans.

It doesn't matter how close you may be to the person you collected loan from.  Their are high risk that are involved investing cryptocurrency and their is no guarantee that you can recover the money you took for loan for investing,  cryptocurrency is unpredictable.

The more you refuse not to pay off your debts on time, it lingers and creates an un-relaxed mind. If it is debt from banks, it accumulates. If it is also a debt from a friend, it can affect your relationship with him. Which will not be a good idea. Settle up your debt first before you think of investing.

No time is ever late to invest in crypto, it can be done at any given time if that's what you are afraid of not to miss this bear market. There is always an open opportunity to invest at any given time in crypto compared to when you are in debt

I highly doubt the OP ever read much of the advice in this thread for his question, the OP is inactive since he created the thread so it doesn't take many pages if we're just going to say YES/NO.

I hope he comes back to read or respond to some suggestions, it will be good for him because it makes no sense to answer questions and suggest someone who disappears like smoke.

Surely the thread would just die out. I highly doubt that OP would still come back though. It is just like one of those Redditors in Reddit with their throwaway account just to post certain topic to avoid someone looking his/her information up.
Assuming OP's story is true, 6k debt is insane and I cannot imagine having that amount of a debt here in my country.
That's almost close to being half a millionaire in here, lol.

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Loved the OP's username by the way, lol. I never really paid attention to usernames/ranks. :D

Obviously that's almost bullshit because I'm sure when you have $6K that you haven't paid in a certain period of time then you're bound to find debt collectors taking everything you own including the cell phone you used as collateral. Let's just say I was wrong about it, it's just a guess.

So, I have to report this thread for locking because the OP isn't as serious as it seems. Even if the mod doesn't want to do it because it's probably still quite new, then I hope there won't be many replies and other suggestions added.

Having a debt is a hanging liability that will continuously haunt you and your profits unless you settle it as soon as possible. If you have an ongoing debt but you want to invest, then chances are that your debt would not be settled for the time being.

Ask yourself, why do you want to invest? Do you want to do the latter in order to pay your current and outstanding liabilities? If that is the case, then you are relying on something that is risky in nature and not absolute.

Pay your debt first then invest your money, if any. Apply jobs and use the opportunity to learn from your mistakes in order to avoid any liability from incurring.

There is a management of money and financial system in our life in which we don't only focus on the investment but also on other things. What we must consider is:
- Money for Daily life needs
- Money for certain emergency
- Money for certain education and other important needs
- Saving money for emergencies someday
- Paying for debts or loan
- Investment

So, if we can divide our money into several needs above, we can be sure whether we must have certain money to invest or not. But for me, I will pay for my debt at first although this may be not at once, by repaying the debts according to the agreement. Do not let because of our debts, other people become disturbed and constrained, while we are not concerned with paying debts but instead invest. So it's wiser, we still have to pay the debt first, and if there is still free money left, we can invest or DCA in Bitcoin.

Hmm, I'm curious. where will you get the money for investing, buddy? is it from another loan? I don't think it's wise to try to close your first loan with another loan to invest. Moreover, the market is not in a good shape right now. Although, for those who still have spare money, I'll suggest they to adding their assets little by little from now. But you have a different case I think. I won't advise you to invest with loans, because the first rule of investing in the crypto world will be "invest as many as you afford to lose" and if you borrow money to invest, it means actually you're not ready to lose that funds when bad things happened. I'm afraid, the effect will be massive.

Using the DCA approach is not the issue here, the issue is whether or not to do the right thing. As a person of conscience and integrity, if my debt payment date has lapsed, I don't deprive myself of ease by being under pressure, I would pay the debt first. Also, the best practice of investment is to only use the money you can afford to lose. Can you afford to lose the money? What if Bitcoin does not respond positively to your plans in the next 3 years, what would you do? It is reasonable to first settle your debt before thinking of any investment. 

If you maintain DCA then where will you get the money to pay your debts? the mistake you make is borrowing without thinking long term about how you pay the debt. this will create new problems. The loan you do will of course be accompanied by interest which if you don't pay the interest it will continue to swell. If you are able to pay off your debt first, of course it is a choice that must be made. never make a loan without having a good strategy and trading skills.

Firstly, this is almost like robbing Peter to pay Paul. It is simply illogical to ignore pressing debt just to invest in a venture that may not produce yield soonest. At least it is wise to pay off a fraction of the debt and save up or invest some other fraction in the investment you deem fit. I would also recommend you read up on books that would help build financial and investment I.Q. A very good example would be, The Richest Man in Babylon. As old as the book is, it is packed with guidelines on how to pay debt and make investments.

I like this list of obligations that must be met, but given the crazily ever increasing cost of living, do you think it is possible to budget for and strictly adhere to everything on it? Paying off debts that are necessary for survival is a very wise investment. In fact this counts to me as the most essential. If a significant portion is utilized to pay off these debts, the balance can be set aside or used to DCA in a significant way.

As much as you like to do DCA, it's better to pay off your debts first. And never ever going to use the borrowed money that you have to DCA with Bitcoin or any cryptocurrency. It only creates new problems for you.

If I were in your shoes, I would do whatever it takes to pay off my debts. Coz' I know it's a great feeling to be debt-free. Instead of using that borrowed money for DCA purposes, better find ways to increase your income instead and sell whatever unnecessary stuff that you have right now.

That is probably an old debt and it keeps rolling high due to unpaid interest, and now he wanted to make other resources to help it but choosing crypto is not really a wise choice for him. This actually couldn't help him but probably it added more problems in return especially if he lost his capital.

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A good suggestion is to use his capital to pay his debt first in order to have peace of mind or make another investment plan that has higher security and less risks.

yo, u need to be able to calculate ur future decisions since u are in debt. Also, have multiple source of income, not just one.. if u in crypto, get into P2E games as one of your options in making income. I guarantee ROI by just playing! 😁 u can prob check the podcast on technode global "Gamers are making a living from play-to-earn" to get started.

Right. DCA if using debt money will make us even more headache. Paying off debts is the best thing. If you are already wrong, then you can simply hold the coin you bought. But that does not apply to futures trading.
Trading is not a job that can earn for sure. Because we are faced with the risk of loss. That's very different from your work providing services and you will earn money once a month. Understanding the risks and acting cautiously is the best way.

No need to wait for paying off your debit, it is what it is.
You need to move ahead because you pay off your debit from your profits, moreover some countries like united, 80 percent of the citizens are in debit unknowingly either in credit cards or mortgage ETC.
Debit is a way of life man.
Don’t be stagnant just proceed on investing but be wise.
And Any investment you are about to do should calculated.
Take a wise risk

True. Paying your debt should always be prioritize first before the lender call your attention and demand an immediate payment. It is always said and even proven that money from loans should not be used to invest since there are no guaranteed profits waiting ahead. The reason why you should save first your own money so that if your investment does not work, you will never have to struggle financially and emotionally.

Debt free is always the way to go. I'd pay off the debt you have then once you're debt free, ump back in and buy the dip. It looks like it could soon be a really good time to buy as prices are beginning to look like they're coming down. Possible 12k BTC. I'd pay off the debt, then buy up as much BTC as you can when prices are low.


My $0.02.

it's better to pay off debt first, because it's an absolute obligation, then you can start investing.

If you invest but still ignore debt, you are forgetting your obligations.

Prioritize responsibilities first.

The case of the OP is not encouraging because once someone with integrity is in debt, the payment of the debt should be the priority since there must have been an agreement before the loan was given. Now, investing the money at hand in crypto means that the loan is not a priority and this might cause additional issues since crypto investment is a risky one. No guarantee for any immediate earnings with it, which might put the OP under further pressure.

Investing when in debt is a sign of wickedness. The loaner should have made their own budget on the loan you took. If it will be difficult to invest after paying the debt then at least the loaner should get upto 80% of the amount then the remaining 20% can go for investment with the mind of balancing the 20% as soon as some profit are made.

The problem with investing is that there is a win or lose aspect to it, which means if things don't go as planned... You will not only lose money on the investment capital, but also have unrepaid debt which could get you in bad books with the creditors.

My advice is you need a clear mind for best investment decisions which can start with settling your debt, those investments you have going can be put on hold for now.

Go clear up your debt.
One major rule in Bitcoin investment, is not investing borrowed money and always invest what you can afford to lose. Investment in crypto should be done with money we aren't wanting to use anytime soon. If you're in debt and still want to invest, you should know that you're not doing the right thing as you might be making financial decisions under pressure and might want to grab every opportunity presented to you which might even include some scam opportunities as well.

Agree, but it would be best if you should pay half of your income for your debts. I saw that you want to invest and are very eager to earn money but what I suggest is if you don't want to wait until you have paid off your debt, try to manage your income or earnings, half of it for debt, half of it for investment. Trading, investing, or business has a real risk of losing money; I don't know if you are thinking of the downside that you can lose all your money in an investment and don't have a backup plan. You should always think of both sides and play safe on it.

There are some people who do that, but they can succeed. I don't think it can entirely be considered wrong. There are people who have understood his abilities and they are able to pay off their debts. But I know not everyone has that expertise. You have to understand how much you are capable of, if you believe you can then it's not wrong.
But people who are in debt have an obligation to return then if they don't have the expertise to invest then it's better to pay off your debt with some of the money you can gradually.

This is a very dangerous path, if there are still debts, then the first thing you need to do is change the reasone, which led to debts (need to change mindset and habits). After that, you need to think about creating capital and investing. I read in some book, I don’t remember the name now, that there is a way to get out of debt and invest at the same time. It is necessary to agree that you will repay the debt in equal parts (possibly smaller if necessary) and at the same time you will invest part of the money of 10% of your income, and repay another 10%. I do not entirely agree with such a strategy, because the bank may not agree to extend the term of the debt, or this will lead to an increase in the amount that will have to be paid. I am a proponent that the debt should be closed as quickly as possible and then fully focused on investing.

First and foremost, figure out how to make money and pay off your debts. After that, you can put your money into the market. It won’t be a wise choice to invest in the market while being in debt.