You don’t need a ton of cash to make some shrewd financial decisions for your future.
If you have a credit card balance that is accruing 22 percent interest each year, paying that off will produce a better ‘return’ than almost any other investment you can make. Imagine digging a hole that gets 22 percent deeper each year. If you wanted to get out of that hole, the first step would be to stop digging the hole deeper, right? Any other ‘investments’ you make won’t necessarily help alleviate an underlying credit card debt problem. Even if you found a way to get a nice 10 percent return in the market, it won’t mean much if your credit card debt keeps growing at 22 percent.