Imagine you’re in a high-stakes game of Monopoly, and you’ve just landed on Boardwalk but owe a hefty rent to that pesky credit card debt. You’ve got around $8,000 hanging over your head at a staggering 19% interest. Ouch! Now, the question is, should you focus on paying that off first or let some cash sit in your Tax-Free Savings Account (TFSA) in the hopes of growing it?

Let’s break this down like we’re unboxing the latest gadget. Credit card debt is like that friend who borrows your favorite video game and never returns it while simultaneously charging you late fees. The interest on that debt is quite literally eating your money—like a hungry Pac-Man gobbling up dots. With a 19% interest rate, every month that debt hangs around, it’s costing you more and more. This is where the math comes into play. If you’re only making minimum payments, you could be pushing your payoff date way into the future, potentially ending up paying way more than what you borrowed.

Now let’s talk about the TFSA. This is like a magical treasure chest where your money can grow tax-free. Sweet, right? You could invest in stocks, bonds, or even a mix of both, and hopefully, watch your money grow. But here’s the kicker: to see growth in the stock market, you typically need to ride out the waves. Markets can be unpredictable, and there’s no guarantee that your investment will outpace that pesky 19% credit card interest.

So, is it crazy to think about keeping some money in your TFSA instead of throwing every last penny at that high-interest debt? Not necessarily, but it requires a strategic approach. If you’re considering investing a small portion of your funds, think of it like taking a tiny risk in a game of poker—you’ve got to be willing to gamble a little, but not so much that you risk losing your entire stack. Maybe keep enough cash on hand to pay down the debt significantly while still allowing a small investment to potentially grow.

Ultimately, the smart move usually leans towards paying off high-interest debt first. It’s like choosing to save your hard-earned coins in the game rather than investing them in a chance to win more—because the reality is, paying off that 19% interest debt is a surefire way to free up your finances in the long run. Once you’ve conquered the credit card monster, you can dive into the exciting world of investing knowing you’ve cleared a major hurdle.

In the end, think about your financial goals and how comfortable you are with risk. Just like in a well-planned movie sequel, you want to ensure that your financial story has a happy ending—and that often starts with tackling that debt head-on.