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I have $17K invested in a penny stock should I pay off my credit cards?

 
Anonymous Coward
User ID: 76137155
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10/23/2019 09:58 AM
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I have $17K invested in a penny stock should I pay off my credit cards?
I made $7000 last week and have about $11K in CC debt at 20% interest. I know I should pay it off but I am afraid the stock will jump again and I could make way more money.

What do you guys think?
Anonymous Coward
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10/23/2019 10:22 AM
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Re: I have $17K invested in a penny stock should I pay off my credit cards?
Duh.
DeploraVision ™

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10/23/2019 10:25 AM
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Re: I have $17K invested in a penny stock should I pay off my credit cards?
OP, if you saw an investment that would yield guaranteed 20% gain instantly, wouldn't you take it? That's what your CC debt is.

Your penny stocks will tank and then you will have lost the opportunity to get out of debt because you are greedy.

Why are you renting money anyway?
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Anonymous Coward
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10/23/2019 10:46 AM
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Re: I have $17K invested in a penny stock should I pay off my credit cards?
OP, if you saw an investment that would yield guaranteed 20% gain instantly, wouldn't you take it? That's what your CC debt is.

Your penny stocks will tank and then you will have lost the opportunity to get out of debt because you are greedy.

Why are you renting money anyway?
 Quoting: DeploraVision ™


this
Anonymous Coward
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10/23/2019 10:49 AM
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Re: I have $17K invested in a penny stock should I pay off my credit cards?
Get rid of debt

You don’t have any money until you have no debt

My two cents
3643297

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10/23/2019 11:01 AM
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Re: I have $17K invested in a penny stock should I pay off my credit cards?
You should not be having to pay credit card interest. That’s not smart.
Use your stock market money to pay off the debt and after that pay off your credit card every month, don’t carry a balance over to next month.
Invest in stock market with what is left over after paying your bills. .





GLP