No. of Recommendations: 0


Hi Dom!
I'm sure that you are very excited about the stock plan at work and feel that you'll pay off that $4700 but you forgot one thing... INTEREST! That $4700 is still out there and is interest bearing. You aren't going to win on this, my friend. Get your credit card paid off asap and then hit that Market with what you can afford to invest in. My cards are zeroed out all the time every month because I learned that this is MY personality. It's a gift to be able to invest with money that belongs to me instead of money that should have gone to past services rendered. GET GREEDY with yourself. All that hard work should get you to your financial goals but cheating yourself and not paying back those debts will set you back a couple more thousand. Use "Smart Calc" and see it for yourself. Thta interest will bite you in the behind, I promise you.
Immediately, pay off that $700 figure. Then chomp that $4000 figure in $1000 chunks. Yes, you can do without for a few months. I promise you, this will be worth it and you'll be glad you did! Pay it ALL off! Use a debit card and put those cards in a safe place.When you're done, join me and everyone else on the stock buying bulletin boards and let's all make some serious money. Money you can keep and don't owe a damn soul out there! Remember, many of us have been there. My cc debt was to the tune of $30,000. A second job and overtime had it paid off in exactly a year, even though an ex-spouse incurred it all. I know how painful it is but I feel that I owe everyone some "pay back"!
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement