Best Investment

Best Investment : Paying off your Credit Cards Outstanding Amount is the Best Investment

Since last couple of months, I am reveiving one commonest Query from readers all across the world. And the Query is "Which is the Best Investment in current Market & Global Economic Conditions?"

Well, The answer is "Investment in Credit Cards Outstanding Bill is the Best ever Investment".
Disappointed right?................

Which is the second Best Investment?
Well, The second Best Investment is paying off your other Debts. (Except Home Mortgage which is low interest rate & Asset producing Debt)

Again Disappointed right?.......
I know that you were expeting some fundamentally strong stock or some hot asset class such as Gold from me. But the sad Truth is that, in current economic conditions, Paying off youe Debts especially Credit Card Debt is the Best Investment.

What most of the people are doing right now is, They are buying more and more credit cards because during the time of recession, Credit Card Companies are offering more and more mouth watering deals and cash back offers. So people start keeping several Credit Cards in their pocket thinking that I will use it only during the time of Emergency.

But Wait...... Don't Try to fool your self by making false excuses. But Accept the fact that, for Emergecny, You should have an Emergency Fund and not the Credit Cards.

Here are some facts about Credit Cards -

- Credit Card is the 'Worst Ever' Debt Product of the mankind.
- Credit Card will charge you anywhere between 35-50% per Annum Interest rate. No other Debt product will charge you this much of interest rate.
- Once you go into Credit Card Debt, You enter into the Negative world of the Compound Interest. All of your hard earned money will go towards paying the high interest rates of the Credit Cards that otherwise would have gone for Savings & Ivestments.
- More than 75% Bankruptcies of USA are filed because of Credit Card Debt.
- Banks will tell you that you keep Credit Cards for Emergency Purpose. They will also advise you that pay your Minimum Dues regularly to develop a good Credit with Bank. But they will never tell you that, once you take a Credit Card Debt, The Compound Interest will start working against you and will sooner or later make you poor or even Bankrupt. Another thing is that, FOr Emergency purpose you should have an Emergency Fund and not the Credit Cards.

So This Time Pay off all of your Credit Card Bills. Believe me, It will be the Best Investment.
First of all Stop Borrowing Money. Cut down all of your Credit Cards with Scissors & than start paying off all of your Credit Card Dues.'

Once you will be out of this Worst type of Debt, You will feel Free. And you can divert your this money towards Savings & Investing rather than paying off your Huge Credit Card Bills.

I know that, My advise on Best Investment may sound crazy to you. But this is the one and only Best Investment according to current Economic Condition & Global Financial Markets....!!!!