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RE: Pay off or reinvest?

in #steempower7 years ago

On one hand the interest rate on CC debt is enormous, usually at least 10%. On the other hand, Steem Power allows you to earn some Curation Rewards, to increase your author rewards by selfvoting (if you're comfortable doing such a thing).
So perhaps to split your gains on Steem by 50% for reinvestment, and 50% for debt repayment, you're choosing the middle ground for both risk and reward.

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My CC cost is 10% a year. I calculate all again and to make it less I should earn here 780-1000$ monthly, than my debt would be not growing. I decided to not invest in Steem Power but I will not make power down and it will be my reinvestment. Sometimes I upvote my own posts but I use my voting power for others too. Thank you for your reply. I think you are right with this 50/50 solution. If I would get 35000 Steem Power than my vote worth about 3$, 10 a day it gives 30$ and that would be great. For now I don't have even 10 SP :) I should get 35k SP. If I will get so much SP than I think my debt problem will be not soo big because during this time I will earn many dollars too. I know it's not so simply here in Steemit, I do all what I can. :)