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The Water Cooler
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How would you invest 1000$
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<blockquote data-quote="Braggs" data-source="post: 3075189" data-attributes="member: 14999"><p> <ol> <li data-xf-list-type="ol">Pay off any high interest credit card accounts first.<br /> </li> <li data-xf-list-type="ol">Pay off any vehicle loans if possible (remove full-coverage insurance for more monthly savings)</li> <li data-xf-list-type="ol">Taking on a "flip" project. Someone mentioned fixing up a trailer obtained cheaply or small engine (like free lawn mowers)</li> <li data-xf-list-type="ol">Convert it to non-liquid assets last. I like guns, but others mentioned gold and silver which work too. Don't put it in any asset that loses value (vehicles are very bad at losing value).</li> </ol><p>$1000 isn't enough for CDs and won't get you hardly any interest in a regular savings account. Throwing it away on high-priced bit-coin isn't my vote either. You could possibly put it in your 401k but I'd say (since I don't know you or your current account balances), train yourself to not spend it. Keep it in your account (maybe one that's harder to get to) and leave it there. Look at the balance and keep telling yourself to leave it alone. Once you can do this, add more to it. Then more. Pretty soon, you have a nice savings or emergency funds if you need it. Before long, you might have enough to actually get a CD.</p></blockquote><p></p>
[QUOTE="Braggs, post: 3075189, member: 14999"] [LIST=1] [*]Pay off any high interest credit card accounts first. [*]Pay off any vehicle loans if possible (remove full-coverage insurance for more monthly savings) [*]Taking on a "flip" project. Someone mentioned fixing up a trailer obtained cheaply or small engine (like free lawn mowers) [*]Convert it to non-liquid assets last. I like guns, but others mentioned gold and silver which work too. Don't put it in any asset that loses value (vehicles are very bad at losing value). [/LIST] $1000 isn't enough for CDs and won't get you hardly any interest in a regular savings account. Throwing it away on high-priced bit-coin isn't my vote either. You could possibly put it in your 401k but I'd say (since I don't know you or your current account balances), train yourself to not spend it. Keep it in your account (maybe one that's harder to get to) and leave it there. Look at the balance and keep telling yourself to leave it alone. Once you can do this, add more to it. Then more. Pretty soon, you have a nice savings or emergency funds if you need it. Before long, you might have enough to actually get a CD. [/QUOTE]
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