/biz/ - Business & Finance

>>9634347
why not just pay off ur student loans and keep the rest into crypto?

seem like a stupid idea putting everything u have into crypto.

You have $40K In debt which you could hypothetically pay off rather quickly with your “wagie six figure” job. On the basis you appear to be very poor managing money, have no savings, and have CC debt, no you are not going to make it.

Bruh. You need to get rid of the debt. Holding it just cost you money. The sooner you pay it off, the less premiums you pay...

Finance 101.

>taking financial advice from someone who can't pay debt
>being impatient in a market which is clearly going down for the next year
>going all in this far before the bottom

crypto is 95% of my net worth but I'm still contributing more to my debt every month than crypto, it just makes more sense right now because my debt will cost me more in the long run and crypto will be cheaper by the time I'm done paying my debt anyways

>>9634347
>ven
>nano
fk off to reddit, poorfag retard

>>9634379
I just graduated college May 2016. What the fuck do you expect? I'm better off than 95 percent of people in my shoes.

>>9634455
Meant to say May 2017... It's legit just been a year and I started the job in January. Worked random $20/hr jobs between graduating and getting hired onto my current job. just hourly stuff until I found a good long term career

>>9634373
Because they are average of 3.7 percent interest rate over 10 years. You wouldn't be able to get a 10 year 25k personal loan with an interest rate like that if you had a 750 credit score. (I know because I tried) haha

You will lose all of your money in these useles shitcoins. Dump all for BTC before its too late.

>>9634680
Um these useless shitcoins took me from 6BTC to 11 BTC in value.

>>9634347
I have absolutely not accumulated all the coins i need to.

Checking acct. $10k
Credit card debt $0
Student loans $0 (lol cuz i am white cisgendered male and check muh priviledge).
Crypto $86k
House $180k

Portfolio consists of all BTC.

Wish me luck biz bros.

>>9634347
reminder

>>9634347
You’re gonna lose it all when ven exit scams

>>9634347
2k in debit
150k in crypto
0 debt

>>9634379
>>9634373
>>9634400

>pay of student debt which is costing a relative minor fraction of total income
>cannot use that 26K anymore to invest and potentially receive very large returns
>extremely asymmetric risk return, highly profitable to use money to invest instead of pay off debt
>literally how finance works, issue debt to invest

What is investing????

>>9635025
this. are you guys fucking retarded? with a low interest rate why the fuck would u say to use crypto to pay off the loan. maybe pay off the credit card debt if anything (exorbitant int.rates) but keep the loan and make minimum payments on it

t.doing the same thing.

>>9634494
how did you get such low interest on your loans?

>>9635039
Doing the same. 40K student debt, 0.01% interest (thank you government). 30 years time to pay off.

>Ah jeez made 400K in crypto last year with 10K investment
>Let's take a significant part of the profit to pay of a extremely manageable debt even if crypto goes to 0

>>9635091
should i refinance my student loans, my interest rate is high as fuck compared to that

>>9635025
>>9635039

Typical 12 year old millennial mentality of people who don't know how to manage their finances.

$7,000 in CC debt, also refereed to as the worst kind of debt to have, which historically has an APR or 17%-22% per month. Every month you don't pay this off, you are losing money.
$27,000 in student loan debt, same scenario.

Every month you pay the minimum on these, you lose money. But hell, lets throw it all into crypto

Inst

>>9635152
No silly goyim why would you ever want a lower interest rate?

>>9635152

0.01% is a larp, not possible

>>9635160
Wow great response, you must be head of the debate team.

No, I study MSc Quantitative Finance I understand the idea behind debt and paying off debt trust me.

I am not talking about high interest rate debt anon! I am talking about low interest rate debt i.e. student debt. Read my post.

My argument is based on the logic that there is an extremely asymmetric investment opportunity. With high interest rate debt that opportunity is not available, so YES then you pay off debt because you are losing money jeez.

If extreme logic gets you painted as a typical 12 year old millennial then I am fine with that.

So after reading this, do you want to change what you said anon? Or do you still don't understand what I mean with the difference between high and low rate debt and asymmetric return rates vs risk.

>Every month you pay the minimum on these, you lose money. But hell, lets throw it all into crypto
>WHAT IS INVESTING, ISSUING DEBT AND OPPORTUNITY COST

How can you be this simple

>>9635228
Oh no youre right it's actually 0.00% :)

https://duo.nl/particulier/international-student/student-debt/interest.jsp

>>9635234

>My argument is based on logic, and in this moment I am euphoric

>>9634414
nano will have a nice bull run soon imho

>>9634494
I had a credit score of 830 and couldn't get a personal loan rate lower than 5.5% for 10yr. I checked too. Student loans are basically free money, you could just turn around and invest them in ultrasafe index funds and still make a profit on them.

>>9635249
>typical 12 year old..blablabla
>post meme image and doesnt respond to a well place critical argument

You're doing fine anon. Keep up the good work.

>>9635249
>>9635160
bait fail.

>>9635041
Government loans.

"wish me luck": The Thread

>>9635274
Exactly. There is no point in paying anything other than minimum payments on them. Mortgage is the same way. Forgot to say I own a $230,000 home with about 220k left on the mortgage at 2.6 percent.

>>9635274
Yep and in NL it's literally free money because of 0% interest rate

>>9635318
Why is the brain outside his skull?

>>9635442
I cannot

>>9635249