Wealth Mentor Linda P. Jones of www.ShowMeWealth.com shares a smart tip about how to decide what to do with extra cash: pay down existing debt or invest? "Smart Tips" is produced by Geffner Productions. Please visit http://GeffnerProductions.com to find out how to become a featured on-camera expert in your very own series of "Smart Tips" videos. Transcript: Do you have some extra cash and you're wondering, should I pay off my debt or should I invest it? Here's a smart tip to help you easily make that decision. So the answer is, to look at the interest rate. For example, if you have a credit card that's charging you 17%, when you make a payment that's like getting a guaranteed return of 17%. Versus an investment, you'd have to make better than 17% in order for that to make more sense. That's why usually when you have high interest rate debt, it makes more sense to pay that off. I'm Linda P. Jones, America's Personal Wealth Mentor. Thank you for watching my smart tip!
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