See the obvious
This is an important thing to remember when it comes to Debt Reduction and Financial Planning in general. Don’t get caught up too much in the whole, “What stocks should I invest in..”, or “Is Ameritrade better than Bob’s Discount Brokers?”, remember, Debt goes FIRST. If you are carrying a large Credit Card debt, who gives a crap about whether you pay $29 or $35 per transaction with your online broker? Whatever money you are thinking of investing, PUT IT ON THE DAMN CREDIT CARD DEBT!
Sometimes we lose focus and get caught up in the whirlwind world of financial planning and fun like that (I plead guilty to this offense as well, I am not pointing fingers at anyone, I am speaking from experience), worry about getting out of debt FIRST, then worry about investing.
We’ll talk about real world examples in the coming weeks and months, since my financial plans are not working as I had hoped, so I figure I might have an epiphany if I vent my spleen on the blog. We’ll see.
–C8j
Related Articles
- Invest or Pay Debt?...
- Don’t use Debit, Use Credit?...
- Belated Happy and Prosperous New Year...
- Why are BMO and CIBC reissuing Credit Cards...
- Christmas is 71 Days Away...
Related posts brought to you by Yet Another Related Posts Plugin.
February 3rd, 2006 at 7:29 am
Paying off your debt first is the only way to go. I agree it is easier to get caught up in the investment whirlwhind. How many people will be suckered this week as the TSE goes higher and higher. Financial institutions still encourage people to go into debt to finance investing. Always, always a bad idea.