I (28F) have been poor with my finances and had several hits this year (new car, sick family member). At the moment I have 22k in credit card debt, about 13k needs to be paid off by March 14.
I have about 14k in my checking & savings accounts right now and a 21k stock portfolio. I have never missed at least paying my last balance on my cards (credit score has been at 730-750).
Looking at my stocks, I'd have to sell my winners, which would be 80% of my portfolio (which adds up to 17k) and the losers (3k). To not cash out the stock I've thought about searching for a credit card with 0% APR for balance transfers for 6< months.
Is this the circumstances when you choose to sell stocks (they're all long term)? A part of me already sees the relief of selling the winning stocks to just have more cash around and leaving the losers (stocks that are at least 50% down).
Question: Is it better to shuffle debt around, or sell the whole portfolio and take this as a "clean slate" opportunity?
original posted by simbamyzon to r/personalfinance on Wed, 28 Feb 2024 15:58:19 GMT.