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Question on Investment


Forum: Financial Planning and Budgeting

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  #1  
October 2nd, 2013, 07:31 PM
Newbie
Join Date: Oct 2013
Posts: 1
Hi. I'm new to this Forum and I wanted some financial advice. maybe you can make a suggestion.

My net worth is about $120,000 including about $25,000 in credit card debt. I'm paying a low interest rate with Citibank on the card. A large portion of my money is in the stock market where I do pretty good.

My question is, is it better to pay off my credit card debt with some of my investment money? The money is liquid.

I rather not go to a financial analyst to ask them.

Thanks in advance.

Steph
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  #2  
November 6th, 2013, 01:14 PM
MrsEskimo's Avatar Member
Join Date: Oct 2013
Posts: 44
My best advice, Steph, is not to ask on a forum. Even people who seem intelligent may not be the expert they claim. A brief meeting with someone at your bank may be free, and even if not, it may save you money in the long-term. Without knowing more about your income and savings - not that I want to know - I can't really be of help. I will say, though, if you're able to put your money to work and earn more than you're paying on the credit cards, do that and use part of the proceeds to pay off the debt. Start with the smallest debt and work upwards.
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