Ok, so I'm listening to a Beatles CD as I write this, the new "1" CD, which allows me to cheat as I have all thier stuff. So what does this have to do with credit card debt? Well, some stuff. First of all the title sums up my state of mind. Back in August I had $7,900 in debt and hope to pass on my experience to some people. First of all I am VERY LUCKY in that I can live with one of my parents while taking care of debt. The interest on the cards was 22% and killing me. I was also behind on payments. What I got one of my folks to do was get a CD at 2% interest rate for another, lower rate. This was after I paid off some of the 7900. The checks were sent out and I was so releived to not be paying 22% interest. Now, I am repaying my debt to one of my parents via the bank at a 2% interest rate. I recommend a CD for paying down credit card debt. I also cut up my cards and only use a debit card with the exception of one credit account to pay fo internet access. That is AMEX and has to be paid off in full each month so there can be no more messing around. Reason #2 why I used a Beatles song title? I have alot of thier CD's and that was part of unwise spending. I would never part with them and enjoy them, but I would have saved more. Now, my only question to anyone out there. Where do I go once I get to the point that I have paid off the CD, which should be by April or May as I can pay a lot of it each month. What would be some good and sound investments to finally get money working for me and not me working for money. I'm only 25 but already sick of debt, etc. I want to be smart with my money and never have to worry about "bad debt" again. Any advice appreciated. Granted I can't take it as an "absolute stock recommendation" or anything like that, but would like at least some sort of guidline or options for possible decisions down the line from people with better financial skills or more experience than I have got. You can also email me at: firstname.lastname@example.orgThank You In Advance.Edward Crawford
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra