| ||I'm 23. I have $3000. How can I best use it to make more money?|
25 points by nimbleNima on Feb 3, 2012 | hide | past | web | favorite | 32 comments |
|Hello fellow HN readers,|
The title gives the gist. I'm in college. I'm $6000 in credit card debt, and at 12% APY I'm paying $60/month in interest. If I pay off half of it, then my interest drops to $30/month. In other words, it's an investment that makes me $30/month. I've read into CDs and IRAs, and I find them meaningless, since their returns are insignificant, and any accrued money will be offset by inflation.
I want to know, from any multimillionaires here, what is the best course of action? Speak authoritatively. How would YOU use this money--if it was all you had--to snowball it into more? I'm open-minded.
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