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Debate: Should you pay off a small debt fast or invest that cash? I chose the debt route and here's what happened.
I had $500 left on a credit card with 22% interest, but I also had a chance to drop that into a mutual fund. I paid off the card and my credit score jumped 40 points in two months, but I missed out on some market gains. Which move makes more sense long term for you?
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karenb972mo ago
I paid off my card and my credit score did a happy dance while my investments gave me the side eye.
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annajenkins1mo ago
Gotta think about it differently though. Paying off debt is a guaranteed return, stocks are gambling on a good year. Your credit score isn't just a number, it's directly tied to how much lenders will screw you on your next car or mortgage.
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logan6582mo ago
Man I was totally in the other camp for years. Always thought throwing extra cash into the market was the smarter play, no question. But seeing your credit score jump 40 points off just $500 really opened my eyes. That kind of boost can save you way more in interest on future loans than a few months of market gains. You got me rethinking my whole approach now.
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