In a blog article by Jeffrey Weber at Forbes.com, he had mentioned that it is a poor decision to continue to hold onto high amounts of credit card debt and continue paying interest, and at the same time have investments that are earning comparatively smaller amounts of interest. Jeffrey is the President of Credit Card Depot, Inc.

Indeed, Mr. Weber may have a very good point here. He starts the article by saying that “It always amazes me when people who are deeply in debt to their credit card companies fail to do everything in their power to pay it off immediately.” It is indeed amazing that many people today just are not thinking through on some things. If you were to ask them, they could tell you that it probably does not make sense. But when it comes right down to why don’t they make the necessary changes, they most likely would be at a loss to tell you.

When you have a higher interest rate on debt then it really only makes sense to eliminate the debt prior to any serious investing. After all, what happens otherwise is that the interest from the debt continues to eat up any and all profit made.

As long as the credit card debt remains, then there is a constant drain on the money. It is a drain that can be avoided. If the money that is currently invested were to be taken and used to pay off the debt instead, then possibly thousands of dollars more could be saved in interest.

The really bad part of it is that you remain in debt unnecessarily long. If, instead of investing the money, you were to pay the debt down as fast as possible, then that in itself would give you a large amount of money saved. It would be considerably more than you would have been able to receive from an investment in bonds, too. The higher the interest rate on the credit card, the more money that could be saved this way.

People today need to change the way that they look at debt. Debt really is not necessary, except perhaps in the case of a car and a home. Other than that, debt should be looked at from the point of view that it is a waste of good money that could be used better if it were invested. Instead, debt is letting someone continue to get rich off of you because they invested in you by giving you a credit card you can’t control.

As Jeffrey Weber also mentions, when interest rates on loans and other forms of credit go up, the rates on interest-bearing items such as bonds will go down. This will make your investment seem even more foolish. Now the interest you are earning is almost paltry compared to the interest being paid on your credit card debt. Once this happens, your are losing even more because the interest is earning less.

It also needs to be added, although many already know this, that when you have considerably less debt, you are able to invest more money – and make larger amounts of interest. Instead of investing small amounts, why not try getting out of debt, then investing much more each month? Also, if you use instruments such as an IRA, or 401(k), you can get tax deductions, too.

If you have money to invest, then you have money to reduce your debt. This is why it makes no sense not to have a goal to become debt free as soon as possible. How fast can you pay off that debt and stop paying the credit card companies your hard-earned money?