Which Is More Profitable: Investing In Stocks Or Paying Off Debts?

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Question: I’m constantly trying to save money, but now my husband says we should “spend money to make money.” He says the stock market is going so great, we should invest. But we have two car loans and a $3,000 balance on our credit cards. I want to pay those off first, but he says we’re missing out on a big opportunity, and that the stock market is how people get rich.

I’ve stalled him by saying we’d ask an expert first. I chose you as that expert. What do you think?

— Rebecca in New Mexico

Every time the stock market rises, so do the number of questions just like yours, Rebecca.

In the past, I’ve been asked if savings should be put into the stock market. I’ve even been asked if an inheritance should be invested in the stock market.

The answer in both cases depended on the same question: Do you have a lot of debt?

It’s purely a numbers game, but I definitely understand the emotional allure of a bull market, where everyone else seems to be raking in dollars by the wheelbarrow load. Of course, that’s not true — because dollars someone…