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Author: Wannabechef One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308858  
Subject: Re: Buying Stocks with my Credit Card? Date: 4/23/1998 6:22 AM
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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"!
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