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Tuesday, April 7, 2009

Invest, or Pay off Credit Card?

If you carry a balance on one or more credit cards, you're not alone: according to the Federal Reserve, nearly half of American families do. And nearly half of American families also have some sort...

Research shows that if your job is stable and secure and you have some money in a saving account. It is better to payoff your credit cards that have a 15% interest charge. Doing this will be like giving yourself a 15% tax return and save you money in the long run. But if your job is not secure you should be saving as much money as possible and stop charging debt to your credit cards.

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