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SIP Shares vs paying off debt
mariamunkey
Posts: 70 Forumite
I have been saving in SIP shares for around 5 years and have approx £5000 available but these would be subject to tax as not yet matured. If I were to leave these they would double in value in 5 years.
However my dilemma is I owe £6000 in debt and am paying interest on this every month. Should I just take the £5000 (£4000 after tax) and pay off my debt, or struggle through. I'm unsure what would make me better off.
However my dilemma is I owe £6000 in debt and am paying interest on this every month. Should I just take the £5000 (£4000 after tax) and pay off my debt, or struggle through. I'm unsure what would make me better off.
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