Okay, I am dumb in the area of financial investing. I make a decent living for where I live, but not much compared to the national average. Credit is average and below, no bankruptcies, repos or defaults, just alot of lates. I have 2 kids and I want to start using my tax refund checks to use for their school, cars, emergency fund, etc. This year I got $5000 total filing joint. We need to use the money to pay-up bills, and do some minor work at house, but I dont want to spend the money and have nothing left. Banker recommended a cd, and then borrow against the amount. He explained everything to me, and it sounds good, but I dont know ANYTHING about this. The more help I can get here, the better off I will feel. Please answer in lamens terms. I am trying to do what is best for my kids and my financial future. If the cd is the way to go, we are wanting to do this every year from now on. Good Idea or what is better? Thanks much in advance!
2007-02-27
14:27:58
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5 answers
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asked by
caraudioguy
2