in debt but want to invest.

[GiftedMAN]

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?

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.

[Mpamaegbu]

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?

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.

[darkangel11]

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.

[Z-tight]

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?

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.

[acroman08]

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?

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.

[Victorik]

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?

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.

[Rikafip]

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.

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.



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.

[Rockstarguy]

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?

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.

[LoyceMobile]

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.

[nakamura12]

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?

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.

[Shamm]

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?

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.

[Solosanz]

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.

[decodx]

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.

[isaac_clarke22]

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.

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.

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.

[Queentoshi]

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?

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.

[Fivestar4everMVP]

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?

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.

[Myleschetty]

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?

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.
 

[Rengga Jati]

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?

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

[aylabadia05]

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?

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.

[Pmalek]

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.

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.

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.

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.