February 4, 201610 yr Author Alright...let's talk investing and saving money. Just so we have a nice round number, let's say one has $1,000 even to save/invest. What do you do? All in on the stock market? Any in a traditional savings account? CD? $500 here and $500 there? Thoughts?
February 4, 201610 yr Alright...let's talk investing and saving money. Just so we have a nice round number, let's say one has $1,000 even to save/invest. What do you do? All in on the stock market? Any in a traditional savings account? CD? $500 here and $500 there? Thoughts? I see investing & saving as two different things. Investing is something that's usually more long-term so I'd be more aggressive in where I put it. Saving is more short term and I'm not nearly as concerned about earning interest.
February 4, 201610 yr Alright...let's talk investing and saving money. Just so we have a nice round number, let's say one has $1,000 even to save/invest. What do you do? All in on the stock market? Any in a traditional savings account? CD? $500 here and $500 there? Thoughts? Before you get the cart before the horse. Do you have a separate amount set aside for emergencies? Is this money you can leave for #s on stock? Is this money you can lose and not feel hardship?
February 4, 201610 yr Author Before you get the cart before the horse. Do you have a separate amount set aside for emergencies? Is this money you can leave for #s on stock? Is this money you can lose and not feel hardship? Assumption that it's money to burn and plenty of emergency money
February 4, 201610 yr Assumption that it's money to burn and plenty of emergency money It will be burnt money if you don't go about it wisely. At your age and assuming , as you say, it's not money that is needed for an emergency I would NOT put it in any sort of CD/money market account.
February 6, 201610 yr Seems like the best spot to ask. I've had one credit card for the past two years. Never had a problem paying it off. Would there be a benefit to having two credit cards in my name or just stay with one?
February 6, 201610 yr Seems like the best spot to ask. I've had one credit card for the past two years. Never had a problem paying it off. Would there be a benefit to having two credit cards in my name or just stay with one? I don't see any benefit.
February 6, 201610 yr I don't see any benefit. Thanks. I personally didn't see a big benefit but never hurts to ask others opinion.
February 6, 201610 yr Some new financial advice....back up everything on your computer... both on an external and on the cloud and regularly do it. You will thank me later.
February 7, 201610 yr I don't see any benefit. Emergency backup if one is stolen or lost. Also, it expands your line of credit, say you have a line of credit of $5,000 on one card. If you put $3,000 on it, you're well over 30%. You would be better off putting $1,500 on each.
February 7, 201610 yr Opening a new line of credit and it just sitting there only hurts your credit profile. It doesn't help in anyway. If you plan to use both in the future then I guess. No point really.
February 7, 201610 yr Author You're better off to buy something small and pay it off every month, correct?
February 7, 201610 yr You're better off to buy something small and pay it off every month' date=' correct?[/quote'] Stay below 30% total value charged and pay it down quickly. So yes, small consistent payoffs look good.
February 7, 201610 yr You're better off to buy something small and pay it off every month, correct? Stay below 30% total value charged and pay it down quickly. So yes, small consistent payoffs look good. So say opening a second one and only using it for gas. Then paying it off every month would be good?
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