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Has your savings balance finally hit $100,000? If so, congratulations on reaching this financial milestone! Chances are, you had to apply a combination of discipline and hard work to get here.
Once you've taken a beat to celebrate, you may notice a feeling of uncertainty set in, especially when it comes to deciding where to put the money. You may even feel overwhelmed when you think about spending time opening new accounts and moving the funds around.
It's natural to feel unsure about what to do with such a significant sum of money, considering it doesn't come with an owner's manual. But with that said, there are tried-and-true strategies for prioritizing where your money goes.
If you've got high-interest debt — loans or lines of credit with an annual percentage rate (APR) of 6% or higher — do yourself a big favor and pay it off ASAP. For most people, this will include credit cards, which currently have average interest rates above 21%, and personal loans, which average over 12%.
#money #advertiser #chances
Has your savings balance finally hit $100,000? If so, congratulations on reaching this financial milestone! Chances are, you had to apply a combination of discipline and hard work to get here.
Once you've taken a beat to celebrate, you may notice a feeling of uncertainty set in, especially when it comes to deciding where to put the money. You may even feel overwhelmed when you think about spending time opening new accounts and moving the funds around.
It's natural to feel unsure about what to do with such a significant sum of money, considering it doesn't come with an owner's manual. But with that said, there are tried-and-true strategies for prioritizing where your money goes.
If you've got high-interest debt — loans or lines of credit with an annual percentage rate (APR) of 6% or higher — do yourself a big favor and pay it off ASAP. For most people, this will include credit cards, which currently have average interest rates above 21%, and personal loans, which average over 12%.
#money #advertiser #chances
8 days ago
