Ironworks Gaming Forum - View Single Post - What to do with the Money from the Tax cuts.

Bungleau · 06-02-2003, 02:22 PM

Only thing I'd add... before investing, check your bills. IF you have outstanding debts, pay them off as much as possible. You will earn far more by not having debt (and not paying monthly finance charges, which are around 12 to 24% annually) than by investing.

Note I'm not saying don't invest; I believe that you should. But investing at 10% when you could pay off debt that costs you 20% is still backwards, just slower. If you have no debt, then invest... happily...

06-02-2003, 02:22 PM	#2
Bungleau 40th Level Warrior Join Date: October 29, 2001 Location: Western Wilds of Michigan Posts: 11,752	Only thing I'd add... before investing, check your bills. IF you have outstanding debts, pay them off as much as possible. You will earn far more by not having debt (and not paying monthly finance charges, which are around 12 to 24% annually) than by investing. Note I'm not saying don't invest; I believe that you should. But investing at 10% when you could pay off debt that costs you 20% is still backwards, just slower. If you have no debt, then invest... happily... __________________ B Save Early, Save Often Save Before, Save After Two-Star General, Spelling Soldiers -+-+-+ Give 'em a hug one more time. It might be the last.