Not really if you can pay it back. For example what I do. Not giving financial advise. I borrow money from banks and then I invest it on stock/ETF that pay me dividends and I use dividends to pay off what I borrow. Right now interest rate is to expensive and I do not have any outstanding to pay back. And all of it goes into my TFSA. I max it out every year, and all funds go into the market, and I collect growth and divis. I try my best to earn the same way the banks earn off of us when we leave our cash in chequing accounts.
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This is a dangerous game to play and I know many who have been caught out doing this.