Step 1 of 6 · Start Investing with Your First $100
Emergency fund before stocks
Emergency fund before stocks — step 1 of 6 in Start Investing with Your First $100. Investing $100 while carrying 24% credit card debt is backwards — pay the card first. Keep $500+ cash for flat tires.
Free personal finance tip: Emergency fund before stocks (step 1 of 6 from "Start Investing with Your First $100").
Investing $100 while carrying 24% credit card debt is backwards — pay the card first. Keep $500+ cash for flat tires.
This $100 is money you won't touch for 5+ years. If you'd panic-sell when it drops 15%, keep it in savings until you've read what volatility means.
You'll need
- High-interest debt plan clear
- $500 cushion exists
- Money is 5+ year horizon
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