In a decade as an investment analyst, I see a lot of money questions pop up continuously. In fact, I sat down in a special call with many of you last week in a special Q&A session for your biggest questions about personal finance.
Ask these money questions before it's too late and you get caught in a financial fiasco.
Should you pay off your debt before investing?
I would say, even start investing if you have debt with an interest rate as high as 14% even if you’re only able to afford maybe $50 a month investing.
Should you pay off your partner’s loans?
You’re only legally responsible for the debts your partner takes on while you’re married, those debts they had before are still going to affect your relationship so it might be better just to pay them off.
Is there a Thing as Good Debt?
My days as an equity analyst have led me to disagree. No successful company would dream of not using debt as a financing tool. They use debt to borrow at low rates and reinvest in the business.
Are credit card rewards programs worth it?
If you think you might want to use a rewards card, shop around for one that doesn’t charge an annual fee. Try it for a year and then take a hard look at how much you paid in interest.
“What do I do if I can’t pay all my bills one month? How do I decide which debt to pay?
First off, figure out which bills you can pay and how many you might miss. The worst thing you can do is to ignore those unpaid bills until the next month so at least you’re thinking proactively.
“What do I do if I can’t pay all my bills one month? How do I decide which debt to pay?
If a creditor won’t give you an extension, move that bill into the paid pile and look at others. Usually, the late fees on utilities are pretty minor so you might wait to pay those even if they won’t give you an extension.