r/debtfree•
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just sold my car - almost debt free! advice on what to do w/ money from sale: debt or invest given the current economy?

hi! long time lurker, first time poster. i've had about 11k in CC debt consistently for the past few years, plus a car loan that was sitting around 4k as of today. i sold the car today (goodbye 4k of debt!) and made 11k on the sale... i could cry at the thought of being completely debt free!!

so here's the question: about 7.6k of the 11k of debt is on 0% balance transfer cards. one card is 0% until april 2026, the other is 0% until december this year. i know to immediately pay off any debt with interest, but is it best to take the 11k and put into HYSA or other high yield liquid investment accounts until promo period is over, or to just erase the debt now? keeping in mind the looming potential of a recession and rising inflation as a key factor - normally, i'd likely no brainer invest, but seeing some mixed comments that my debt would grow "more expensive" in a recession and thus is better paid now. any advice helps - thank you!

Posted Apr 15, 2025, 7:34 PM UTC

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