Comment on Anon tries to understand credit scores
ryathal@sh.itjust.works 15 hours agoHaving 20k plus the cash flow to pay a 20k loan is a totally different scenario than buying a car for cash. If you need that 20k to pay the 333/month, it’s stupid to trust the market isn’t going to go down, and simple savings would net you maybe $500.
TubularTittyFrog@lemmy.world 13 hours ago
the market hasnt’ gone down in like 15 years dude.
ryathal@sh.itjust.works 12 hours ago
It’s gone down moth over month many times though. If you are dependant on that principle month to month it’s insane to trust the market.
TubularTittyFrog@lemmy.world 12 hours ago
all that matters is the value when you cash out. if you are sitting there agonziing about an assets value month to month you’re doing it wrong.
ryathal@sh.itjust.works 11 hours ago
Investing is great for retirement funds, over the 30 years or so it’s great for returns. It’s terrible to invest principle you need in scope of months or 1-2 years even.
If you have 20k and a 20k loan, putting that money in the stock market is stupid if you need that money to pay the loan. If you have 20k, a 20k loan, and income to cover loan payments in addition to living, it may be beneficial to invest that 20k, but it’s still relatively high risk.