in debt but want to invest.

[weeniehodler05]

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?

[noorman0]

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.

[DVlog]

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.

[Lafu]

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 .

[FatFork]

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?

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.

[DevFile90]

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.

[masulum]

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.

[Laurendaldin]

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.

[NeuroticFish]

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?

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.

[aoluain]

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?

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.

[NeuroticFish]

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

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.

[Davidvictorson]

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 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.

[tvplus006]

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 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.

[Viscore]

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.

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.

[hatshepsut93]

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.

[kawetsriyanto]

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?

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.

[pooya87]

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.

[autumnleaf]

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?

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.

[jossiel]

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.

[lovesmayfamilis]

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.