How You Can Invest $1,000 … Right Now

Put your money to work one of these four easy ways

    View All  
How You Can Invest $1,000 … Right Now

#4. Pay Down Your Debt

percentage sign e1287685323774 How You Can Invest $1,000 ... Right NowThis is a great choice for those with student loans, a mortgage or any long-term borrowing under your belt. Even if you have a rock-bottom interest rate of just 4% on your home, over the life of your 30-year loan you will pay $1,200 for every $1,000 in principal!

Paying down even a small amount of your loan early can drastically reduce what you’ll be paying down the road. And in the case of credit card debts and other short-term loans with higher rates, the payoff is even bigger and more immediate.

That’s to say nothing of the benefits you may reap through an increased credit score — and the added bonus of one less bill to pay each month.

Like what you see? Sign up for our Young Investors e-letter and get practical investing advice delivered to your inbox every week!


Article printed from InvestorPlace Media, http://investorplace.com/2013/08/how-you-can-invest-1000-right-now/.

©2014 InvestorPlace Media, LLC

Comments are currently unavailable. Please check back soon.