If You Have $1,000 — Do This Now
One of the best feelings in the world is having extra money accessible to you. It could be from a birthday or graduation present, from last year’s tax refund or just having spent less money last month than you took home. Having this extra cash is great but only if you use it properly. You see, when many people receive any windfall of money they see it differently than the money they get through their paycheck and this tends to sway them into using it for frivolous items. However, spending irresponsibly will never get you ahead financially I want to share with you seven things you must do, in order, if you have $1,000 to spare.
Now that you have access to an extra $1,000, you’re in a great position to make a wise financial decision. What I want to do now is go through 7 smart ways to use that money with the first four being absolute necessities to have covered off with the final three being less mandatory. However, all seven have the potential to put you in a better financial position than you are currently in so let’s get started.
Option #1: Pay Down Debt
While this first option is not as exciting as buying a new phone or gaming system, it could very well be the most financially beneficial way to use your extra $1,000. What I recommend is focusing this cash on your highest interest debt and for many people this is their…
