Should you invest or clear off credit card debt first?
If you have outstanding credit card debt, you might be considering making an investment, the income from which you expect would help make it easier for you to pay back your debt.
Most financial planners would advise against it, however, because it takes time to actually earn from new investments, and with any kind of investment – whether buying stocks, bonds, or venture capital – there is always some degree of risk involved. On the other hand, there are some safe investments that you can look into but it is rather rare to be able to find one that is low-risk and offers a higher return than your credit card interest rate. (more…)