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5 Simple Ways to Invest $1,000 Now

Think it's a small investment? Maybe ... but it can go a long way toward building your future!

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#4: Pay Down Your Debt

how-to-invest-pay-debtThis is a great choice for those with student loans, a mortgage or any long-term borrowing under your belt.

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.

If you had a hard time scraping together $1,000 because of your debt load, it might not be very satisfying to simply use that right away to pay more bills … but remember that the lower your bills next month, the more money goes back into your pocket.

And if you’re smart, that extra cash will pay down even more debt — or if your debt is manageable, then that cash will give you the platform to start investing.

Article printed from InvestorPlace Media,

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