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Andrew writes in:

My girlfriend and I bought a home last year and qualify for the First Time Homebuyer Credit. When you include my share of this, I will be getting back around $4500 in my tax refund. This is a lot of money to me and I’m trying to decide what to do with it. About half will go toward an engagement ring, but I’m torn between investing the other half or paying off my $2,000 in credit card debt. I currently have a very low APR on the credit card and can pay more than the minimum each month. As a licensed broker, I am very involved with the markets and believe I can make 10-15% a year. If I can get a higher percentage return on the investments than the APR I pay on the card, doesn’t it make more sense to invest?

In essence, Andrew is comparing two rates of return here.

First, there’s his credit card. An investment in paying off a credit card has a guaranteed rate of return – the interest rate on the card.

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Although more households are choosing to rent their homes rather than own them, not many renters are choosing to insure their belongings. According to the Insurance Information Institute, 91% of homeowners have homeowners insurance, but only 46% of renters have renters insurance.

Find the Best Renter Insurance

Enter your ZIP code below and be sure to click at least 2-3 companies to find the very best rate.

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