in debt but want to invest.

[JoyMarsha]

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

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[_BlackStar]

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.

[isaac_clarke22]

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

[_BlackStar]

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.

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.

[qwertyup23]

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?

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.

[TelolettOm]

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?

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.

[Luffygroove]

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?

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.

[EarnOnVictor]

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?

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. 

[AakZaki]

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.

[Cryptomultiplier]

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.

[Davidvictorson]

~snip~

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.

[cheezcarls]

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?

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.

[Natalim]

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.

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. 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.

[Bit_Wings_ELA]

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.

[Luzin]

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.

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.

[Richycryp]

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

[freedomgo]

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.

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

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.

[ejd59005]

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.

[Gallar]

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?

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.

[EarnOnVictor]

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.

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

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 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.