Investing in debt is making a mistake and ending up with less equity.
Pay everything you can and in case of longer debts, buy time whenever possible (pay the last installments in advance).
Even real estate financing, even debts that have lower rates, must be paid off before investing.
The Government can change the rule, inflation can skyrocket, you can lose your job, many wrong things can happen. As long as you are in debt, the risk is there.
First, do not make new debts. Those who are in debt have nothing. It is all an illusion while you are in debt. Stop buying unless necessary. Sacrifices will have to be made by everyone in the family or they will never leave this situation.
Above all, do not make new debts even to pay old ones, except renegotiation with creditors.
Renegotiate existing debts with banks and creditors. Say you will pay but within viable conditions and rates. Negotiate, and get cheaper debt. It makes a LOT of difference. They always have a predisposition to negotiate.
In the same way, that TIME is your greatest ally in investments, it is your biggest enemy in debt, so keep them in the shortest possible time.
Consider renegotiating the shortest terms (as long as it is within your budget) and use any extra money you can, buy time. Always worry first of all about reducing the debt term. In advance payments, always buy time, paying the last installments.
The longer the debt lasts, the more interest and the more money you will pay for the same thing, and in the end, the less your equity will be.
Sell everything you can sell. ALL. Nothing is yours as long as you have debts. These possessions that are not yours will be much more useful in reducing debts. If you do not pay the debts, you will end up losing everything. So, sell everything you can to pay the debts, especially the car if you have it, which, besides everything, brings huge expenses.
Sacrifices will have to be made or it will never come out of this. After you are out of debt you can buy anything you want as long as you have money to pay and maintain. Then it becomes yours.
If you have debts there is no point in investing. They earn far less than debts, money is being thrown away. This money invested yields much more for you to pay the debts.
Use all investments to pay. Keep only the emergency savings reserve. Think that you are contributing to finish the debt which is the best investment you can make if you have debts.
Do not be fooled by small counts, they do not consider the worst-case scenario and if this occurs, and it can occur, it is over.
In short, keep only Emergency Reserve, all other investments, sell and pay the debts, and do not make new investments until all debts are paid.
Any money left over, any extra money, use it to pay debts, buying time whenever possible.
Don't take a vacation, work harder, get another job, another source of income. Put everyone at home to work in some way. All focus on paying off debts. His job in life aims to pay off debts.
You can only have a good life without debts. It's like cancer. Stop everything and focus only on destroying them.
Be happy after paying the debts as you will not be happy with them anyway.
While you are in debt is not a human being, has no right to live. Pay the debt, then become a human being and live again. As long as you have debts your life is all about paying off debts.
Make no mistake, the government can change the debt rules, high inflation can come, you can lose your job, debt is always a high risk.
When you finish paying off your debts, keep a part of the effort to accumulate equity and from now on only buy what you need with the money you have.
Stop buying what you don't need with money you don't have to impress people you don't know.
If you want to be able to buy these things, work, save and accumulate. When you have money to buy and keep, then you can buy and it will be yours.
