So, you have a grand and are wondering what is the best way to use it? I read a great thought inspiring article on Kiplinger titled What $1000 Can Do. Here are a couple thoughts...
- Earn over 12% on your investment. How? By paying off or paying down a credit card balance where the interest rate is more than 12%. By not paying it, your kind of earning it.
- If you don't have a credit card to pay down, invest it for the future in a retirement or college savings account.
- Set the cash aside to begin funding your emergency account in an interest earning account.
- If you're on your financial feet, there are kids who don't have enough to eat and who can't afford shoes. Think about helping them. This relatively small amount of money could go along way for them.
Powered by ScribeFire.