in debt but want to invest.

[Don Pedro Dinero]

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.

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[Eridan_world]

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 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.

[Stable090]

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.

[GeorgeJohn]

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?

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.

[Masplanc]

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 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.

[Issa56]

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.

[KingsDen]

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

[isaac_clarke22]

~

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.

[Gozie51]

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?

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.

[Kasabus]

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.

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.

[LogitechMouse]

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 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.

[Bhig Daddy]

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.

[BitKongy]

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.

[KingsDen]

~

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.

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.

[Huppercase]

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 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.

[khaled0111]

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.

[ShowOff]

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.

[m2017]

~

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.

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.

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".

[Vaculin]

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?

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.

[khaled0111]

..

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.