Dude, Why So Much Credit Card Debt?
Newer readers may note some serious credit card debt going on above. In short, I’m borrowing the money for “free” and keeping it in safe investments while earning me interest. Please see my posts on taking advantage of no fee 0% APR balance transfers for more. Some recent examples are my $9,000 from Citibank and $10,000 from Discover Card. Roughly, I’m earning 5% on $30,000, which is $1,500 of free money a year for doing nothing but paying bills on time.
Stock market was pretty flat this month, I still can’t tell if we are in for a recession or not.
Overall, a good month that went by really, really fast. I’m a working stiff again over the summer (after some thought I took a job), so we’ll be seeing a pickup in the bling coming in for the next couple months. I look forward to seeing some bigger jumps towards our goals. I think I’m going to keep most of it in cash in preparation for that looming house purchase. Every time I see people with $1,000 mortgage payments it amazes me the differences in living costs across America.
Still need to set up that Self-Employed 401k. Mainly I’m waiting for some low-cost administrators for a Roth Self-Employed 401k, but it looks like it may not happen this year.
By Jonathan Ping | Goals | 7/2/06, 11:36pm