Would you use it to pay off some bills or would you invest it in the hopes of increasing the returns to a level at which you could pay off ALL bills.
These are the only options. You cannot mix and match.
2007-01-04 16:05:39 · 9 answers · asked by Katie B 3 in Business & Finance ➔ Personal Finance
You pay off your bills, if they are credit cards you can’t hope to get a rate of return better than those loan sharks charge. The money you save monthly you invent in a Roth IRA or a Mutual fund. You then rip up your credit cards and vow to never be a slave to credit again – or whatever method got you into these monthly payments.
2007-01-04 16:12:27 · answer #1 · answered by Super Jim 2 · 1⤊ 0⤋
Pay off my debts.
Paying my debts eliminates the monthly payment, theoretically increasing my income because I'll have that money in my pocket instead of paying it to my debtors. I could take that extra money and invest it earning interest on it every month.
I bet I could get my investment plus the interest earned to $5000 pretty quick. It all depends on how much I could lower my payments by.
Nevermind. I'll just invest in Powerball.
2007-01-05 00:16:20 · answer #2 · answered by Kevin B 3 · 1⤊ 0⤋
I would have to invest, as i am 19 and dont really have bills and already have about 85 thousand in the bank. I own a house and a very nice car. It is clearly apparent that investments are the way to go.
2007-01-05 00:22:22 · answer #3 · answered by metalmayhem21 1 · 1⤊ 1⤋
I'd pay off some bills now, instead of HOPING to be able to pay them off later.
2007-01-05 00:13:34 · answer #4 · answered by T J 3 · 0⤊ 1⤋
i would get my son head stone paid he has been gone 3 1/2 years and then invest
2007-01-05 00:37:11 · answer #5 · answered by Anonymous · 0⤊ 1⤋
pay off bills
2007-01-05 00:13:33 · answer #6 · answered by melissa s 6 · 0⤊ 1⤋
pay off bills
2007-01-05 00:13:00 · answer #7 · answered by First Lady 7 · 0⤊ 1⤋
You cannot invest American Express' money.
If you do that you will end up just like Donald Trump.
2007-01-05 01:21:01 · answer #8 · answered by Anonymous · 0⤊ 1⤋
uhhhm not to get off the side but invest it in stock! invest it in really good stock and then you could get more than 5,000 like invest in apple stock
2007-01-05 00:14:47 · answer #9 · answered by Anonymous · 0⤊ 2⤋