Replying to Avatar Mr Meadow

Here’s a question for the class:

I’m in sales, have a commission check coming in the range of $25k. Do I:

A. Payoff debt

B. Buy Bitcoin

C. 50/50 split debt payoff and bitcoin buy.

Each responder gets a Zap.
63
John 1y ago

Depends on your debt load. Going to guess it’s>25k since there’s the option of putting it all there. I’m saying put 1/2 into the highest percentage rate debt and 1/2 into B. If you have zero or little cash savings, do thirds. Having available cash makes life so much easier. Unless you have that tendency to spend it all.

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redsun 1y ago

I believe that the best option is all in bitcoin, but covering debt for 75-100% makes you feel relieved of future obligations, but you may lost an opportunity to buy cheap bitcoin

so if you have quite stable income then:

pay 5-15% of the check to cover debt

look at this like you took a credit to buy Bitcoin