Monday, February 18, 2008

Should I Sell Stock to Pay Down Credit Card?

Today I made my monthly payment on my credit card towards paying down and eventually paying off the balance. Right now I am able to throw around $200 a month at the balance so that this month it went down from $1,400 to $1,200.

I want this debt gone. It is credit card debt and I have grown a terrible hatred for credit card debt. I have always believed carrying a balance on credit cards is a bad thing to do. Due to some irresponsible moves the past couple years I built up a large balance and have been working since September at paying it all off.

Today I found myself contemplating whether I should sell some stock I own and use that money to pay down some of the debt. I have a small online stock brokerage account which only has about 800 dollars worth of stock in it. I am contemplating selling one of the holdings which would give me a little over $500 to put towards the credit card. This would help me pay off the credit card a couple months earlier then the current plan of paying down $200 a month.

Once I have that credit card paid off I will be able to save an extra $200 a month. This would help boost my savings quite a bit. My stock account is for fun. I like speculating in the market. However, I don't see myself getting rich off of this. Especially with such little capital and considering I've lost money on most of my trades except a couple. I don't see myself growing the capital I can trade anytime soon either. My fiance and I have specific goals and none of them include building up my stock account. We are saving for our wedding. We are buying a house. We are paying off our debt. After all of this we want to build our emergency fund up about $6,000 more. And after all of this we would like to start saving into a couple mutual funds. I don't see myself contributing to my online stock brokerage account any time soon. Even after our wedding and after our debts are paid off, I doubt my fiance is going to want to put our savings into my stock picking ideas. She would rather put our savings into mutual funds with a history of good performance. And since I work for a mutual fund company, we can do this at NAV with no commissions or sales charges.

It may pain me to liquidate my stock account and use the money to pay down the credit card. However, I believe it is time to face the facts and go after my first goal. Being debt free. Getting rid of this credit card debt will free up a couple hundred dollars a month and that is what I need to do.

46 comments:

CT said...

Sell Sell Sell!

The only investment account you should leave money in when you have a credit card balance is your retirment account, such as a 401k or IRA.

The reason is simple, you'll end up with more money if you take that money out of the stock market and put it into your debt. With the stock market, you can only reasonably expect to make around 9%-15% per year, based on the historical performance of the market. When you pay down your debt, you are gauranteed to save yourself whatever interest rate you are paying. So if your choice is maybe 9%-15% gained on the stock market, or paying off your 14% APR credit card debt, go with the gauranteed win and pay off the card.

Basically, paying off your card is the best investment you can make.

SJean said...

With CC debt, it seems like it would be hard to justify a "for fun" stock account, unless the rate is low on the CC.

And making 9-15% average is assumed you do as well as "the market", which stock picking rarely leads to.

If the rate on the card is low, then you may want to consider the tax implications of selling (I am no tax expert, just a thought). If it is high, then... screw it. Sell them and get closer to debt free

Anonymous said...

low cost viagra how to get viagra get viagra viagra attorneys cost of viagra viagra without a prescription cheapest place to buy viagra online fda on viagra does watermelon have viagra effect viagra suppliers in the uk canadian viagra viagra pills free viagra samples before buying cheapest viagra prices

Anonymous said...

Good day !.
might , probably curious to know how one can collect a huge starting capital .
There is no initial capital needed You may start to get income with as small sum of money as 20-100 dollars.

AimTrust is what you haven`t ever dreamt of such a chance to become rich
The company incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

It is based in Panama with structures around the world.
Do you want to become an affluent person?
That`s your choice That`s what you really need!

I feel good, I began to get income with the help of this company,
and I invite you to do the same. If it gets down to select a proper partner who uses your money in a right way - that`s AimTrust!.
I make 2G daily, and my first investment was 500 dollars only!
It`s easy to join , just click this link http://puqezofeb.dreamstation.com/wyjupon.html
and go! Let`s take our chance together to become rich

Anonymous said...

Good day !.
You may , probably very interested to know how one can make real money .
There is no initial capital needed You may commense to get income with as small sum of money as 20-100 dollars.

AimTrust is what you need
The company incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

Its head office is in Panama with offices around the world.
Do you want to become really rich in short time?
That`s your choice That`s what you wish in the long run!

I`m happy and lucky, I started to take up income with the help of this company,
and I invite you to do the same. It`s all about how to choose a correct partner utilizes your money in a right way - that`s the AimTrust!.
I take now up to 2G every day, and my first deposit was 1 grand only!
It`s easy to start , just click this link http://hawawobam.builtfree.org/upakut.html
and lucky you`re! Let`s take our chance together to get rid of nastiness of the life

Anonymous said...

Good day !.
You may , perhaps curious to know how one can reach 2000 per day of income .
There is no initial capital needed You may begin earning with as small sum of money as 20-100 dollars.

AimTrust is what you thought of all the time
AimTrust incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

Its head office is in Panama with affiliates everywhere: In USA, Canada, Cyprus.
Do you want to become really rich in short time?
That`s your choice That`s what you really need!

I feel good, I began to get real money with the help of this company,
and I invite you to do the same. It`s all about how to choose a correct partner who uses your funds in a right way - that`s it!.
I earn US$2,000 per day, and my first deposit was 1 grand only!
It`s easy to join , just click this link http://apezeture.ibnsites.com/wiwegiry.html
and go! Let`s take our chance together to become rich

Anonymous said...

Hello !.
You may , perhaps very interested to know how one can reach 2000 per day of income .
There is no need to invest much at first. You may begin earning with as small sum of money as 20-100 dollars.

AimTrust is what you haven`t ever dreamt of such a chance to become rich
The company represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

It is based in Panama with structures everywhere: In USA, Canada, Cyprus.
Do you want to become a happy investor?
That`s your chance That`s what you wish in the long run!

I feel good, I started to get income with the help of this company,
and I invite you to do the same. It`s all about how to select a correct companion utilizes your funds in a right way - that`s the AimTrust!.
I take now up to 2G every day, and my first investment was 500 dollars only!
It`s easy to join , just click this link http://ufisowav.s-enterprize.com/dakunyg.html
and lucky you`re! Let`s take this option together to become rich

Anonymous said...

Good day !.
You may , probably curious to know how one can reach 2000 per day of income .
There is no need to invest much at first. You may start to receive yields with as small sum of money as 20-100 dollars.

AimTrust is what you need
The firm represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

Its head office is in Panama with structures around the world.
Do you want to become a happy investor?
That`s your chance That`s what you really need!

I feel good, I started to get income with the help of this company,
and I invite you to do the same. It`s all about how to select a correct companion utilizes your savings in a right way - that`s AimTrust!.
I earn US$2,000 per day, and my first investment was 500 dollars only!
It`s easy to get involved , just click this link http://ravehimo.ibnsites.com/arotek.html
and lucky you`re! Let`s take our chance together to get rid of nastiness of the life

Anonymous said...

Hi !.
might , probably curious to know how one can collect a huge starting capital .
There is no need to invest much at first. You may commense to receive yields with as small sum of money as 20-100 dollars.

AimTrust is what you need
AimTrust incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

It is based in Panama with structures around the world.
Do you want to become an affluent person?
That`s your choice That`s what you really need!

I feel good, I began to get income with the help of this company,
and I invite you to do the same. It`s all about how to select a proper partner who uses your funds in a right way - that`s AimTrust!.
I earn US$2,000 per day, and my first investment was 500 dollars only!
It`s easy to start , just click this link http://qyvykixi.lookseekpages.com/qytudem.html
and go! Let`s take this option together to get rid of nastiness of the life

Anonymous said...

Hello !.
might , perhaps very interested to know how one can collect a huge starting capital .
There is no need to invest much at first. You may commense earning with as small sum of money as 20-100 dollars.

AimTrust is what you thought of all the time
AimTrust represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.

Its head office is in Panama with structures everywhere: In USA, Canada, Cyprus.
Do you want to become an affluent person?
That`s your choice That`s what you really need!

I feel good, I began to get real money with the help of this company,
and I invite you to do the same. It`s all about how to select a proper companion utilizes your funds in a right way - that`s the AimTrust!.
I take now up to 2G every day, and my first investment was 500 dollars only!
It`s easy to get involved , just click this link http://dunejamuwu.freewebsitehosting.com/bekodubo.html
and lucky you`re! Let`s take this option together to feel the smell of real money

Anonymous said...

Hi there!
I would like to burn a theme at here. There is such a nicey, called HYIP, or High Yield Investment Program. It reminds of financial piramyde, but in rare cases one may happen to meet a company that really pays up to 2% daily not on invested money, but from real profits.

For quite a long time, I earn money with the help of these programs.
I don't have problems with money now, but there are heights that must be conquered . I get now up to 2G a day , and my first investment was 500 dollars only.
Right now, I'm very close at catching at last a guaranteed variant to make a sharp rise . Visit my blog to get additional info.

[url=http://theinvestblog.com] Online investment blog[/url]

Anonymous said...

Hello everyone!
I would like to burn a theme at this forum. There is such a thing, called HYIP, or High Yield Investment Program. It reminds of ponzy-like structure, but in rare cases one may happen to meet a company that really pays up to 2% daily not on invested money, but from real profits.

For quite a long time, I make money with the help of these programs.
I don't have problems with money now, but there are heights that must be conquered . I get now up to 2G a day , and I started with funny 500 bucks.
Right now, I managed to catch a guaranteed variant to make a sharp rise . Visit my web site to get additional info.

http://theinvestblog.com [url=http://theinvestblog.com]Online Investment Blog[/url]

Anonymous said...

Good day!

We are not acquainted yet? It’s easy to fix,
my parents call me Nikolas.
Generally I’m a venturesome gambler. for a long time I’m keen on online-casino and poker.
Not long time ago I started my own blog, where I describe my virtual adventures.
Probably, it will be interesting for you to utilize special software facilitating winnings .
Please visit my blog. http://allbestcasino.com I’ll be glad would you find time to leave your comments.

Anonymous said...

buy xanax online took 4 xanax bars - drug interaction zofran xanax

Anonymous said...

cd cialis reviews , cialis professional , buy cialis online , viagra professional , generic viagra , generic viagra online

Anonymous said...

srg cialis.com free offer , purchase cialis , cialis reviews , buy cheap viagra , viagra uk , cheap viagra online

Anonymous said...

tg buy cialis online , cialis for women , cialis coupon , viagra price , viagra prescription , buy viagra cheap

Anonymous said...

I am actually happy to glance at this blog posts which includes lots of valuable data,
thanks for providing these kinds of information.
Also visit my web blog :: lorem ipsum dolor sit amet definition

Anonymous said...

I am curious to find out what blog platform you are utilizing?
I'm experiencing some minor security issues with my latest blog and I would like to find something more safe. Do you have any recommendations?

Also visit my site: combinations
Also see my page > laminate

Anonymous said...

It's an remarkable paragraph for all the online viewers; they will take advantage from it I am sure.

Feel free to surf to my webpage ... acheter viagra quebec

Anonymous said...

Wow, superb blog structure! How lengthy have you ever been
running a blog for? you made running a blog look easy. The overall glance of
your website is fantastic, as well as the content material!

http://www.prismv.net/nuke/modules.php?name=Your_Account&op=userinfo&username=LacycFullerhttp://www.
epicturtles.com/link/16168

Take a look at my web site - england football kit
Also see my website :: cheap football kits

Anonymous said...

In fact when someone doesn't be aware of then its up to other people that they will help, so here it occurs.http://theundergroundscene.co.uk/link/32144

http://www.mjdr.org/social/blogs/user/Philip4188

Also visit my weblog: custom jersey shirt

Anonymous said...

Pretty nice post. I just stumbled upon your blog and wished to
say that I have truly enjoyed browsing your blog posts. After all I will be subscribing to your rss feed and I hope you
write again soon!http://educ-news.net/oxwall/link/17820http://muzo.
ru/link/11236

Here is my website: cheap jerseys free shipping

Anonymous said...

We're a gaggle of volunteers and starting a brand new scheme in our community. Your web site provided us with valuable info to work on. You've performed an impressive
job and our whole group might be thankful to you.

Feel free to visit my website taruhan bola

Anonymous said...

Thank you for the auspicious writeup. It in
reality was a leisure account it. Glance complicated to far delivered agreeable from you!
By the way, how can we communicate?

Also visit my web page - 401k contribution limits 2013

Anonymous said...

When you want to buy Twitter followers, there are numerous packages
on offer online. You can also attract twitter followers while offline.

In other words: you don’t need every Tom, Dick and Harry to follow you on Twitter;
you need people who are in your niche, people who are interested
in the product or service you are offering.


Feel free to surf to my web site - Get more Twitter followers

Anonymous said...

Hey very nice blog!

my homeρage :: link building service

Anonymous said...

Fantastіc іtems from you, man. І've take into account your stuff prior to and you are simply too wonderful. I really like what you have received right here, really like what you are stating and the way in which by which you assert it. You'гe making it entегtaіning and you still cаre for to κеep іt
ωіse. Ι саn nοt wаit to learn faг more fгom
you. Τhat іs rеallу a wonderful wеb sіte.


Feel free tο ѵisit my ωeb page - link building

Anonymous said...

Farrah's life insurance companies was finally back to normal. The rousing success of this year, beneficiaries reaching the donut hole have saved an average of 682 per household on Christmas goodies.

My web page: Get Car Insurance Rates

Anonymous said...

Hi, Neat post. There is an issue together with your site in internet explorer, might check this?
IE still is the market leader and a huge portion
of other folks will pass over your excellent writing due to this problem.


Visit my web-site; houston garden center coupons

Anonymous said...

The other day, while I was at work, my sister stole my apple ipad and tested to see if it can survive
a 30 foot drop, just so she can be a youtube sensation.

My iPad is now destroyed and she has 83 views. I know
this is totally off topic but I had to share it with someone!



Feel free to visit my page: skin lightening pills

Anonymous said...

Excellent weblog here! Also your site so much up very fast!
What web host are you the use of? Can I get your
associate hyperlink for your host? I wish my web site
loaded up as fast as yours lol

my webpage :: houston garden center bellaire river oaks west university

Anonymous said...

Great beat ! I wish to apprentice even as you amend your web site,
how could i subscribe for a weblog web site? The account aided me a applicable deal.
I have been a little bit acquainted of this your broadcast
provided vivid clear concept

Also visit my blog post ... reputation management for individuals

Anonymous said...

Why visitors still make use of to read news papers when in this technological world the whole thing is existing on web?


Look at my site :: twitter followers

Anonymous said...

It's in point of fact a nice and helpful piece of info. I am glad that you just shared this useful information with us. Please keep us up to date like this. Thank you for sharing.

my blog post reputation management

Anonymous said...

My developer is trying to persuade me to move to .
net from PHP. I have always disliked the idea because of the costs.
But he's tryiong none the less. I've been using
Movable-type on a number of websites for about a year and am anxious about switching to another platform.
I have heard great things about blogengine.net.
Is there a way I can import all my wordpress posts into it?
Any kind of help would be really appreciated!

my blog - how to buy followers on social media service twitter

Anonymous said...

Ηeya аrе using Wordpreѕs for your site ρlаtform?
I'm new to the blog world but I'm trуing to gеt startеd anԁ create my oωn.

Do you require any coding expeгtіѕe to make your oωn blog?
Any hеlp ωould bе greatly apprеciated!


Also visit my web blog: green coffee

Anonymous said...

Thanκ you foг another informative web site. Whеrе else mау just I get that tyрe of information
ωritten іn such an iԁeal manner? I've a project that I am just now working on, and I've been on the glаnce out for ѕuch
informatіon.

Alsο vіsit my web-ѕite :: waldee-rehab.com

Anonymous said...

Yоu neeԁ to be a ρart of a contеst fοr οne of thе greatest websites on the web.
I am going to highly recommend this blog!


Alѕo visit my blog ... raspberry ketones

Anonymous said...

Τhanκ you for the auspіcious wгiteuр.
It in rеality waѕ a leiѕure account it.
Glance сomplеx to morе delivered agгeeable from yоu!
By the way, how could we communicatе?

Feel free to surf to mу homepage Lloyd Irvin

Anonymous said...

I havе rеaԁ sο many artісlеs conсernіng thе blogger lovers but this роѕt
is in fact a nіcе piесe οf wгiting,
κeeρ it uρ.

Alѕo visіt my ωeb ѕite: raspberry ketones benefits

Anonymous said...

Ӏ'm impressed, I must say. Rarely do I come across a blog that's equallу eԁucаtiѵe аnd engaging,
anԁ let me tell yоu, you've hit the nail on the head. The problem is something which not enough people are speaking intelligently about. I'm
very hаρpy I сame across this
іn my seaгch foг something rеgarding this.


Ηere iѕ my webpage :: green coffee extract weight loss

Anonymous said...

I got thiѕ websіte from my pal who infoгmed me on thе topic of this web sitе and аt the moment thіs time I am bгoωѕіng this
wеb site anԁ reading very informative cοntent at this рlace.


my page; green coffee mit ling zhi

Anonymous said...

Its like you read my thoughts! You appear to grasp so much about this,
such as you wrote the e-book in it or something.

I think that you can do with a few % to pressure the message home a bit, but instead of that, that is
fantastic blog. A fantastic read. I will definitely
be back.

Look into my web page :: nopalitos

Anonymous said...

Excellent beat ! I would like to apprentice while you amend your site,
how can i subscribe for a blog web site? The account aided me
a acceptable deal. I had been a little bit acquainted of this your broadcast offered bright clear concept

Here is my web page; twitter followers

Anonymous said...

Nice info Dreamer

Thanks
guide