wagies are investing while in credit debt

[Anonymous No.53927851]

wagies are investing while in credit debt

i just learned that wagies have been investing in stocks while in credit card debt. They are trying to get 5% dividends while paying 30% interest on credit cards.

[Anonymous No.53927875]

>>53927851
Why don’t they buy Link?

[Anonymous No.53927880]

>>53927851
this seems like 3rd grade level math, but they can't see what is wrong with it. i feel crazy

[Anonymous No.53927898]

>>53927880
why is everyone so bad with money??????

[Anonymous No.53927901]

It's called debtmaxxing anon. Max out one card that has 0% interest for 15 months, transfer the debt to a new card. Repeat.

[Anonymous No.53927918]

>>53927901
they are not doing this thou. they are legit paying 30% interest

[Anonymous No.53928036]

>>53927901

This. However, after boomers did this in the 70s, credit card companies got wiser to the simple tactics. You have to play a balancing act with offsetting the fees incurred during a balance transfer and ensure your amortized safe ROI over the 0% period is greater than that plus the withheld monthly minimum payments you'll be making.

Furthermore, if you do this with any of your "hot" credit cards you use make any kind of regular purchases, you have to manually zero out your balance, less the repayment amount before the closing date each month (and it will never be on the same day each month), or the creditor WILL fuck you with interest charges.

It's not as simple as just taking out $1 million in zero interest debt, dropping it in a 6-12 month CD and paying it all back next year while keeping the CD yield anymore. But if you're smart and diligent about it and you have credit score to burn it, it can be more or less free money.

[Anonymous No.53928507]

>>53927875
Fail

[Anonymous No.53929797]

>>53927851
The absolute state of retail investors.

[Anonymous No.53929809]

Normies aren't human, simple as.

[Anonymous No.53930341]

>>53927851
Maybe the arent so dumb after all

[Anonymous No.53930366]

You imply that they pay the debt back
>oh no 6 gorillion interest rate
Lol just look away nigger

[Anonymous No.53930377]

Are they going to shell out 5k in legal fees to take your 2k credit debt to collections? Are they going to do this for 40 million people?

[Anonymous No.53930530]

>>53927851
I have a 10% line of credit on a 10k loan and instead of paying it off entirely I bought more bitcoin

[Anonymous No.53930537]

>>53927851
What about just not paying and debtmaxxing? Ever thought about being based and not a cuck?

[Anonymous No.53931087]

>>53930537
just have your rich parents pay off the balance for you bro. "im indepenant" because i buy my own stuff

[Anonymous No.53932197]

I had 10k credit card debt and various other debts like signature loan and a 2k medical. I know it made no sense but I decided to tackle my financial life from all sides. My paycheck looked like this every 2 week.

>500 to debt
>100 to savings
>100 to investing

I could not afford more and even did snowball method to debt even tho it didn’t make sense. I figured if I stuck with it I would be out of debt in less then a year and have a emergency fund started and some cash invested.

[Anonymous No.53932234]

>>53930377
>average consumer credit card debt is $2k
You must be a child.

[Anonymous No.53932374]

>>53927851
I turned 2k into 100k not saying that is feasible, but it's possible because you are basically using infinite leverage. You make it sound far more simple than it is. You are what is essentially gambling with money that you don't have which is impossible any other way. This is how you start a business, it's not as simple as you make it out to be.

[Anonymous No.53932817]

Never had one and never will lmao, some shitty 1% return is not worth it.