Clean Up Your Finances Before You Invest (2)

The next thing you should do is look at what you are paying out each month and get rid of any unnecessary expenses.



Although things like high interest credit cards are convenient and nice to have, they most certainly aren't necessary and can end up costing you thousands in the long run.



Pay them off and get rid of them.



Likewise, if you have high interest loans outstanding, you should pay them off as well.



If nothing else, you could do a balance transfer from one credit card to another, exchanging the high interest credit card for one with lower interest.



You could also look into refinancing high interest loans with lower interest loans.



You might end up having to use some of your investment funds to take care of these matters, but in the long run, you will see that this is the wisest course of action