Stabilize Your Current Financial Situation First Before You Invest Part 3
Now that you have looked at the consumer credit burden that you’ve been carrying, you have a plan for paying down that debt, and being able to then use the money saved as an investment.
TAKE STOCK OF THE PRESENT, INVEST IN THE FUTURE
It doesn’t make sense to start investing funds if your bank balance is always running on empty, or you are struggling to pay your monthly bills.
Your investment dollars will be better spent to rectify the adverse financial issues that affect you each day, like credit card debt, for a better tomorrow.
Get yourself into good financial shape with a sound budget, and no debt or low debt, and THEN you will be able to enhance your financial situation with sound investments.
As we said in our article on investing basics, know where you are at present, and where you want to be in the future with your investing goals, so you can start mapping how you are going to get there.
While you are in the process of clearing up your present financial situation, start educating yourself about the various types of investments currently available, and their respective rates of return.
This way, once you are in a financially sound situation, you’ll be armed with the knowledge that you need to make equally sound investments in your future.
3 parts, 1065 words
