Pay down your debts or invest – which is right for you? – The National

Pay down your debts or invest – which is right for you? – The National

No investment on earth can generate that kind of return, and beware of anyone who claims theirs can.. Mr Kyprianou says you should aim to pay off your credit cards in full before you start saving or investing.. Your money simply cannot work harder than it does when paying off expensive short-term debt like that. ". Things get more complicated if you have less expensive debt, such as a car loan, says Ms Howard. ". Most people are comfortable to start investing while still running a car loan, provided the monthly interest isn't too high," she adds.. The decision is even clearer when it comes to your mortgage.. Mortgage borrowing may be cheap, but do not get too relaxed about it. ". The decision over whether to prioritise paying off your mortgage is a personal one.. Remember, a mortgage is an incredibly cheap way of borrowing money, Mr Ritchie adds, quoting billionaire US investor Warren Buffett, who said: "If I knew where I was going to live for the next five years or 10 years, I'd buy a home and I'd finance it with a 30-year mortgage.. "Nobody should really invest in the stock market unless they can leave their