Best return for your investment money, bar none. (Quick Tip)
What if I could get you 23% more money, per year, tax free? You’d be interested, wouldn’t you!
But here’s the thing, it’s not glamorous. Its not fun, or cool or even particularly satisfying … but, if you just simply look at it from a accountants point of view, you’ll see, it’s the best investment you can make:
Paying off your credit card bills.
I don’t know about you, but my rates are about 13.3-27%, per year! If I had $1000 to invest, and $5000 dollars in debt, mathematically, it would make more sense to pay off $1000 on my bills: I could only expect $75-150 in earnings on a stock, whereas I would be paying $130-270 per year, per thousand I owed on credit cards.
And this type of investment has other benifets: It strengthens your credit (which is good for loans on houses, real estate investments and business loans) and it requires you to make a concerted effort to pay-down debt, while making no additional purchases. You will also learn that there is more than one way to make money, and that looking at a balance sheet is just as important, if not more important, than reading investment news.
If you are serious about your financial future, this is a critical first step.
NOTE: StockGuilt is a blog about interesting stocks, and our views. We are not stock brokers, investment councilors, planners or legal advisers. In fact, at least one of us is an idiot. The rest are just folks who think about investments. This is what we think, and what we will do/did. In no way are we telling your what to buy or sell … Do your own homework.