extra payment vs invest

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  • andrecv
    Full Member
    • Jun 2012
    • 42

    #1

    extra payment vs invest

    Hi everyone...i have R3000 extra on my salary starting April, should i rather invest it monthly or pay extra on debt with interest rates of 32.10(R99000) and 15.3(R71000) respectively...pls dont tell me i should consult a financial planner...thanks
  • Justloadit
    Diamond Member

    • Nov 2010
    • 3518

    #2
    Always get rid of your debt first. Interest rates are usually very high.
    Then don't get into debt in the future
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar pumping, Solar Geyser & Solar Security lighting solutions - www.microsolve.co.za

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    • Dave A
      Site Caretaker

      • May 2006
      • 22803

      #3
      It's normally best to put it into reducing the debt with the highest interest rate.
      Participation is voluntary.

      Alcocks Electrical Services | Alcocks Pest Control & Entomological Services | Alcocks Hygiene Services

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      • AndyD
        Diamond Member

        • Jan 2010
        • 4946

        #4
        I'd agree, pay the high interest debt, you won't get anything like that return unless you invest high risk.
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