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/biz/ - Business & Finance

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24497778 No.24497778 [Reply] [Original]

The other week I had to spend $4,500 of cash I didn't have on an emergency and had to put the debt on a credit card. The payment date is tomorrow and I have about 2k in crypto.

Do I take the risk and let my crypto ride over my debt or do I pull out for damage control?

>> No.24497840

>>24497778
what the fuck was your 4.5k emergency? sounds like a load of baloney. WHY didn't you have any savings

>> No.24497882

>>24497778
I say let it ride. I'm doing the same. I have about 60k in debt but over 200k in combined psycho gambling assets.

>> No.24497918

>>24497778
not for that little, no. take it out of crypto and pay your shit off first. then buy more when you can

>> No.24497926

>>24497840
Dog got hit by a car and needed surgery.
She's all I have.

>> No.24497941
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24497941

>>24497778
You're one of the 4 in 10 Americans that can't afford a $400 emergency LMAO

>> No.24497957

This is why you're supposed to accumulate emergency savings BEFORE investing.

I sure hope you have a job and income and can pay it off over time.

>> No.24497984

Nigga dont pay that shit and keep yoir crypto.

>> No.24497991

>>24497926
Holy fuck is he ok?

>> No.24497994

>>24497926
smfh. i would've just let the dog die

>> No.24498015

Cash out your fake Internet tokens and put it towards the credit card. You do not want to get into a situation where you’re getting hit with huge interest rates on a credit card multiple months. Once you pay off the card you need to build up at least $10,000 in your savings account before you even think about “investing” again.

>> No.24498025

>>24497778
get a fucking job

>> No.24498042

>>24497994
This. Nothing irritates me more than millennials spending shittons of money on an animal. It's trivial to just get a new one and part of having a pet is learning to come to terms with their death and learning to move on. OP just impoverished himself to put off learning that lesson (and maybe to be more fucking careful with letting his dog off the leash near a street).

>> No.24498053

>>24497994
yeah, cause you're a nigger. you wouldn't get it.

>> No.24498071

>>24498042
Sure thing, spick.

>> No.24498086

>>24497926
Know that feel. Hope you two both make it.

>> No.24498095

>>24498042
This. I can understand a few hundred dollars, even several hundred dollars if you have the money to spend. But 4.5k? Just let it go man, get a new dog none of em are gonna last forever.

>> No.24498108

>>24498071
You have to learn to let go. Are you also going to impoverish yourself to help your parents cling to life in their 80s, miserable and feeble?

>> No.24498133

>>24498071
>t. maldeveloped weirdo who is unable to face reality

>> No.24498161

You wait for it to go to collections, they call you up, okay? They say, what's gonna happen is collections is gonna call, they're gonna say "we need you to pay us $70...", or let's be realistic, "you need to pay us $350 a month, okay?"

What you do is this. I can't take credit for this, although I put my own interesting twist on it. You say: "AHH JEEZ DOOD, THREE FIFITY? AHHHH!"

Now these people are used to hearing sob stories all day, so you don't have to feel ashamed for hitting them with a sob story, real or fake, they hear this all day.

What you do is you go: "AHH DOOD I JUS HIT MY CAAAA, I'm on these PILLS bro, I can't do THREE FIFTY!"

>> No.24498331

>>24497778
Spending 4.5k on your dog is really excessive, and you need to spend less emotionally, but it's done so let's set it aside.

Your credit score is already a little fucked, so at LEAST make the minimum payment. The best solution is to pay it off fast, or else be charged big interest. The cypto market isn't going to moon just because you're gone, so do what you have to do.

>> No.24498464

>>24498053
should've gotten a fucking cat not some dumb dog

>> No.24499304

Is everyone in this thread trolling? Just pay the minimum this month dude and pay the rest off later. You don't have to pay in full every month unless you live in some weird country.

>> No.24499403

>>24498161
Based eventually they will settle for 40%

>> No.24499416

>>24498161
based

>> No.24499469

>>24497926
Ngmi

>> No.24499526

often i let things go to my credit report and report it as identity theft.

100% success rate so far, but to be fair, nothing more than $600

>> No.24499570

>>24497926
You made the right decision.
Do you think some greasy long nosed fuck at the bank looking at your numbers on a ledger is worth more than your best friend?
Fuck no.
Should have put that shit on a credit card though.

>> No.24499581

>>24497926
I love dogs but come on now. Ruining yourself financially when you apparently have no savings for a dog surgery? I'd just put my dog down and adopt another one.

>> No.24499632
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24499632

>>24497778
>$4.5k for surgery
>dog dies from old age 3 months later

ngmi

>> No.24499653

You need to build your net worth anon.
Stop eating out.
Stop consuming new stuff like a dipshit.
You don’t need an upgrade. You don’t need a $10k car. You don’t need it.
If you follow the basic principle and get addicted to net worth building, I guarantee you’ll see over $100k in 1.5-2 years (unless ur a nog, 3rd world, or min wage scum)
Then when you can put $20k into crypto or other high risk assets you won’t feel so bad and you most certainly won’t be living on the edge. Stop borrowing and be your own bank. If you can’t handle a few grand in your checking account without you eating out constantly,spending on generic useless Chinese amazon bullshit, you’ll never ever ever make it
Get rid of your stupid car Loan.

>> No.24499881

>>24497840
Could have been two root canalsnwith dental insurance.


5k please sir.


Oh sorry the root canals didn't work? That happens. Itll be 1k to pull the teeth and 17k for implants. With your insurance of course
MERICA

>> No.24500179

>>24497926
How long does it take you to make $5k? Probably several months not counting other expenses. Ngmi but your dog might thanks to its retarded owner. Best of luck to the two of you

>> No.24500260

>>24499581
Yes
>>24499469
Yes
>>24498331
Nice response. Crypto is retarded might as well cash out and buy into actual investments
>>24498095
Yes
>>24498042
>>24498015
Nice to see everyone on this board isn't completely retarded

>> No.24500475

>>24497778
Sell your crypto. Make more money. (it's really that simple)

Or ... Fuse under private sale but i doubt you get a 3x in a week.

>> No.24500527

>>24497957
If he has a job he can take out a personal loan, or better get a new credit card with 0% APR for 18 months and put it on that

>> No.24500692
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24500692

>>24497926
Instead of a dog, I have squirrels and birds for animal interactions fun. I feed them acorns I picked up for free from a spot a mile away.

How the fuck do people catch this "Live indoors with pet animals because I can't take the pain of being human" virus?

>> No.24501177

>>24497778

30% asset inflation in 2020. Convert your crypto to higher caps and wait out the debt. You need to negate as much spending as possible and work the debt, if you don’t think it’s possible, cash out your crypto now and slash the credit card debt.

>> No.24501542

>>24497778
Every month you don't pay that off you are going to pay ~$68 dollars in interest. Less if you pay it faster. Do the needful.

>> No.24501836

>>24498331
>LEAST
this is your best advice.
Former banker here.. you should be making the bare minimum payment on your debt otherwise your credit will be completely fucked.
Once it gets fucked, it's not easy to recover

>> No.24501872

ffs a pet to an introvert is a part of their soul
i feel you OP, and I'm sorry to hear that. good luck

>> No.24501873

>>24499570
only based person in this thread. these niggers are more addicted to seeing their coin numbers go up than a connection with a loyal best friend who would give their life for you

>> No.24501879

>>24497882
25k in debt and 25k in internet money. You think biden is going to cross out some of my student loan debt?

>> No.24501914

>investing in crypto with high interest credit card debt

Always remember these are the people you are taking advice from

>> No.24501927

>>24499881
Get new insurance. Dunno how it is in USA but we have the same problems with dental insurance in germany. Newer insurances usually cover them though because the price explosion in dental happened pretty recently.

>> No.24501936

>>24497778
just make a minimum payment.

If you have decent credit, go get a new credit card, do a balance transfer, and make payments. Let this be a lesson on the importance of an emergency fund

>> No.24501955

>>24497778
Put your crypto on compound or AAVE and take out a Tether loan. Pay your debts with the loan as much as you can ride the crypto wave. Worst that can happen is you get liquidated but you would thrown away your crypto anyway so just risk it.

>> No.24501990

>>24501914
Nice reading comprehension, retard.

>> No.24502006

>>24497926
Every panhandler on earth uses this story.

>> No.24502055
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24502055

I'm being taken to court for $2k worth of cc debt from ~3 years ago. In fact my court appointment is tomorrow morning. I could have just paid off the 2k back in 2017. Instead I ignored my credit card and dodged all calls for years until they finally served me this court notice a month ago.
So now I have to go to court for 2k worth of cc debt. I'm not mad at all though, because I used the money that would have been used to pay that 2k to buy chainlink and now I have six figures lmao.
My advice: fuck'em. Put every penny you have into crypto. Even if they chase you down for your cc debt it will take them years by which point you should have made excellent gains with crypto.

>> No.24502531

>>24497926
Bro sorry to hear man. Money well spent imo. I say let it ride as well fuck it - make it a goal for 2021 to have no debt

>> No.24502618

>>24497926
Unironically pissing money away. I get a dog is family but 5k of surgery? M

>> No.24502684

>>24497778
Pay the minimum, think it over another month
Odds are that your interest isn't even 40% APY, and odds are that you can roll your debt to a 0% 12+ month APY card on some promotion, you can even take it further and churn them for a while
Getting a job will help a lot too, it's really nice to have some form of cashflow though you have to become a filthy wageslave
>>24502055
In my country you don't get in court for less than 15k on credit card debt, it's just not worth it, they just sell the debt to some collectors and they will pester you for a while with fake repossessions, mutts really do have it hard

>> No.24502722

>>24502006
yeah i've heard this and girls saying "oh my god i never do this" far too many times in my life. get some new content ffs.