It’s Friday afternoon and it’s been a rough ride on Wall Street this past week. We’ll end our week here at Drinking is Believing with a short advice column from CNN Money that tells us how to dig ourselves out of debt.
It mentions three simple steps:
- Pay off high interest debt before worrying about 401(k) investment
- Extend the payment terms on big loans (education/home/auto)
- Shop around for deals, specifically on a mortgage or home equity loans
The best piece of advice for anyone who is taking these steps would be to not get into massive debt in the first place. Don’t buy things you can’t afford and live within your means.
The KoolAidMan will be away this weekend in a remote cabin, far from any cell towers or WAPs. While he’s away, feel free to browse www.drinkingisbelieving.com and comment on any posts you find interesting.
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