At 27 With $12K In Debt, Should You Buy A Home Or Pay Debt Off First?

Should you pay off debt or prioritize buying a house? A 27-year-old Canadian recently asked that question on Reddit (NYSE:RDDT) while detailing their situation. The individual has 1,500 Canadian dollars ( $1,084) in savings and CA$ 11,000 in credit card debt at 12% APR. The 27-year-old also has a CA $4,000 car loan at 7.99% APR and CA$ 1,500 in monthly expenses. The monthly take-home is CA$3,300 after taxes. Pay Off Debt First Redditors overwhelmingly told the 27-year-old Canadian to pay off the debt first. ...