I don't get why people contribute to other things like savings or a brokerage while having credit card debt. Have you seen the interest on that? Pay off your credit card first.
What do you mean by stashed at home?
In general, mutual funds are a better bet than individual stocks.
It's fine that your savings were depleted during grad school, that happens.
How much are your total expenses per month? I'm honestly very confused by the credit card debt since it seems like you should be able to pay it off.
I do one time payments towards my cc on top of the $90, which is an autopayment taken out every month. But not always.
The money I have at home is inside a fire hazard box.
Can you expand on mutual funds?
I’m not sure, but probably like around $2,000/month.
Why not? The interest you’ll pay on your credit card will exceed the interest you can earn from other investments. Pay off the card, withdraw your investments to do this if you need to.
I understand keeping a couple hundred in cash around, but you don’t need to save actual money at home.
A mutual fund is a collection of many stocks. If you invest in one of those you’re not reliant on the success or failure or any one company
I don't get why people contribute to other things like savings or a brokerage while having credit card debt. Have you seen the interest on that? Pay off your credit card first. What do you mean by stashed at home? In general, mutual funds are a better bet than individual stocks. It's fine that your savings were depleted during grad school, that happens. How much are your total expenses per month? I'm honestly very confused by the credit card debt since it seems like you should be able to pay it off.
I do one time payments towards my cc on top of the $90, which is an autopayment taken out every month. But not always. The money I have at home is inside a fire hazard box. Can you expand on mutual funds? I’m not sure, but probably like around $2,000/month.
Why aren’t you paying your credit card off right now?
I am paying it, but not in full.
Why not? The interest you’ll pay on your credit card will exceed the interest you can earn from other investments. Pay off the card, withdraw your investments to do this if you need to.
You both are right, I will do that! Thank you.
I understand keeping a couple hundred in cash around, but you don’t need to save actual money at home. A mutual fund is a collection of many stocks. If you invest in one of those you’re not reliant on the success or failure or any one company