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What Would You Do With An Extra $2000

 

If you had or have an extra $2000 then there are a few ways you could use it to your advantage. What would you do with an extra $2000?thoughts-4

Here are 7 tips to get you thinking:

1. If you have a credit card debt and are paying high interest every month on it then it’s a good idea to put it towards that. That will effectively save you the amount of interest every month!

2. In fact if you have any high interest debts then the $2000 would be best used to pay them off or at least down to save you money in the long run.

3. Do you have an old appliance that is costing you more to run than it should? Then buying a new, more energy efficient replacement will ultimately save you money over the years to come.

4. Another idea is to invest it in the share market or start a managed fund. This will hopefully encourage you to save more into this as money becomes available and over time the investment will grow, making even more money on your initial $2000 investment.

5. If you have a mortgage then you could put it all towards that saving you money on interest and reducing the cost of the loan.

6. You could put it into your superannuation fund and reaps the benefits when you retire.

7. If you have young children then you could invest it for their education costs for the future.