Description
This article is from the How to Start an
Investment Program tutorial, author unknown.
Personal Investment Program: Eliminate Credit Card Debt
Next on the priority list is to pay off all high interest rate
credit cards and set up an emergency cash reserve fund. Believe me,
you will never see your net worth increase as long as your investments
are growing at 15%, but you are paying annual interest on credit cards
at 18%. It just won't happen.
Pay off your credit card balances as soon as possible and put some
money into a rainy day account. This money needs to be in a highly
liquid form, i.e., convenient to get to without delay and without
heavy cost associated to obtain it. A rule of thumb is to have three
to six months of living expenses available in case it's needed. This
will vary depending upon your circumstance.
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investing, mutual funds, index funds, brokerage house, selecting stocks, value stocks, growth stocks, dow jones
