I am going to mix things up a bit, and shift my focus from charts today..
How would you like to earn 10-20% on your money, guaranteed? Yes, this sounds too good to be true, I know, but it's simpler than you think. Instead of trading your way out of debt, instead of searching for the next black box system that will return 100%, why not face your debt head on, and pay off those credit cards, which have an average interest rate from 10 to 20% per year!
Many of you are getting ready for the holidays, and the credit cards are coming out again...This only will put you further into debt come January. But, I can hear you, "Hey, it's okay, I can make it all back in 1 trade". Hey, I know, I've been there, it's much more exciting to make a trade, and boast about your annualized rate of return of 1,000%.
But, if you have tons of debt, you need to shift your focus to paying off debts and get at it now! Exchange your wild swings in the market, with a steady plan, and pay off that debt, and earn yourself a guaranteed 10-20% rate of return annualized!
Now is the time, get focused, get on a plan, get on a budget, and start paying down your debts... there are tons of financial sites out there, do your research...I recommend Financial Peace University (FPU).
Here are some quick DO's and DONT's...
DO manage your money well.
DO get on a budget, telling your money where to go...
DO apply extra cash towards your lowest credit card balance. Continue this approach until all credit cards are paid off.
DO prepare for emergencies, by saving 3 to 6 months of expenses in a money market account, where emergency cash can drawn from.
DO keep at it.
DONT's
DONT charge thru the holidays.
DONT ignore your debts.
DONT borrow money, with the sole purpose to invest.
DONT give up.
tb
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