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+--- Thread: Debt vs Gold/Silver -answer mine please! (/Thread-Debt-vs-Gold-Silver-answer-mine-please)
Debt vs Gold/Silver -answer mine please! - quietlike - 04-17-2012 12:18 PM
hey Brother,
Ive watched your vids for some time now, keep up the good work. Anyway, I've built my silver stack, and very little gold. I recently ran up a cc bill for education (practical skills and Rich dad coaching), and while I can afford payments, its still a lot each month @ 24%, and will take a year or more to pay off (rough estimate, paying as much as possible each month). If I had a low rate, or could get approved for a new card at 0%, id switch in a second, but I cant and the interest rate is really what makes this a question.
My question is, is it wiser to sell some of my metals (it wont be all of it, but a good chunk), or hold out, eat the interest rate, and try to pay off like a mad man with my 9 to 5?
I was thinking that it was an easy answer (duh pay off your cc), but maybe Im missing something. Im sure my coach will say sell it, and recoup later. What say you?
I guess it comes down to, do you think silver move more than 24% this year? The average in the past few years is right around there.
Thanks
QL
http://www.youtube.com/quietlike