I WILL ZAP FOR QUALITY ADVICE
Should I sell btc to pay off my car?
Amount is 7k usd
#asknostr
Discussion
Thoughts are
to avoid interest payments
Open up funds for mortgage
Buy back at lower price
No !
Probably not. Assuming your paying off a loan with some small interest rate, better off paying min and holding the extra corn longer
No
No, try to focus your fiat earnings to pay off the debt instead
if the amount you have to sell is only a small chunk of your stack and you just want to not have to think about it anymore, then maybe.
if it’s a substantial amount of your stack, then no, you need to focus on growing your stack and push your fiat debts as far in to the future as possible.
No. You will pay it off and you will think you have enough time to replace and you wont. And 7k is a nice chunk.
DO YOU BELIEVE BTC WILL INCREASE MORE THAN THE INTEREST YOURE PAYING?
IF YOU WQNT THE PEACE-OF-MIND OF NO PAYMENT, CONSIDER PAYING IT OFF OVER THE NEXT FEW MONTHS BY MAKING LARGER PAYMENTS. $1000 PER MONTH FOR THE NEXT 7
Get the hell out of debt. You’re not free if you owe. Debt is a leash—they own you until it’s gone. Pay it off, burn the chains, and live lean. Only the debt-free can tell the world to go to hell and mean it.
NO!
If you earn in fiat then no.
#bitcoin is money, use it. if you do not use it, it is not money... 🤗
but I know what you mean... keep a part of the stack for the potential buying power in the future. however, my opinion is still that if #bitcoin is to be a money. then it must be used like money. a good option is to pay off your car?
Thanks
I would be asking this: should I sell my car so that I don’t have to sell my btc?
Sage advice nigga
For me, the point is that the $7k debt is not a big deal - the problem is when someone decides to finance a car instead of paying cash (I’ve been guilty, trust me). Maybe you can sell your car, pay off the loan and use the rest on a cheaper car, no financing.
Given the situation you’re in now, if you have a job, just pay the monthly payments if that’s affordable and let your stack do its thing 😎 . Don’t panic like “I need to get out of debt right now!!!” unless that debt really really represents a lot of stress and risk for you. Just change your behavior going forward (“I promise not to finance a car ever again”)
Totally, and my car is pretty cheap with low payments relatively, and good on gas mileage. Reasons to do it are btc price is up and then it's one less bill which helps out with the 4k/ month in preschool + the new mortgage payments.
I think not sell.
Hmm if you can’t make those expenses without going further into debt (credit card) than I guess you either find a way to raise income or consider selling something. If it has to be some BTC, ok, but that hurts. I’ve had to do it myself at some point this year
I can make them, it's just to create more breathing room if that makes sense.
My shit crashed and then I fucked it up, but all should be square now
How much is time would it take you to pay it off without selling and how much interest would you give up?
If you’re okay with that don’t sell. If not sell if it makes you lose sleep. Your peace of mind is important
I'm thinking no.
It could take 2.5 years to catch back up