Dealing with debt: what I plan to do with my money next

Following the sell of Financial 15 Split Corp. (FTN) in the current stock market, I had taught about what do to next. I had something to care of: pay off some debt. I am now at something close to 65k... It's going up instead of going down... But that's something typical to my financial situation. For once, I am going to try to decrease my debt level. I do not want more than 60k on debt. It's a first take I am taking to pay off debt. I will concentrate my efforts on paying my 10 000$ line of credit that I hold at 7.27%.

I have sell stock online previously

On my recent sell of Sprott Inc. (SII), even after investing in 300 new stocks of Just energy, I was able to generate a gain of 259.32$. I use 240$ of that money to pay off part of the 10 000$ debt I have. I will also deposit tomorrow the amount of this paycheck I will be receiving tonight. Also, I plan to transfer 3 000$ from my margin account at 4.25% to the credit line. This will allow me to save 16.40$ per month. Not that much, but 16.40$ x 12 months = 196.80$... So that's interesting. I don't want to use too much of my margin account balance money at this time, that's why I am not looking to transfer more than 3 000$ for margin borrowing.

Also, another reason why I want to pay off some debt is that I have a credit card balance transfer of 7 966.23$ at 4.9% that is going to expire sometime in April 2011... It doesn't seem like it, but April is not too far away. So the money I save now may go on the payment of that debt if I cannot continue on the same rate on the credit card. At this time, I didn't receive any new credit cards with balance transfer offer. I received one of those once in a while. But from existing credit cards I hold, no new offer yet.

I may be able to save around 500$ to 600$ per month to pay on debt. As for now, I like my stock investment portfolio the way it is. I am pretty sure I won't invest again for the next couple of weeks but that of course could changed.

More about my sell of Financial 15 Split Corp. (FTN)

This morning, I decided to sell my 100 stocks of Financial 15 Split Corp. (FTN). I was even able to sell at profit, making a 30$... The timing was just perfect. In all of what I earn, investment is made for the long run. I like to invest in companies that I feel that I can see myself getting older on. I am a big small cap fan and I like those companies trading at affordable price and who pay huge dividend. And in this case well, maybe Financial 15 Split Corp. (FTN) dividend yield was too good to be true. If you hold some stocks of Financial 15 Split Corp. (FTN), don't be on a rush to sell. Remember, Financial 15 Split Corp. (FTN) is a pick of the mountain lion hero himself. I did sell this morning because the sell had provided me a small gain. I wouldn't had sell if I was going to loose money among the way.

The mountain lion man is a senior. Fact is, Financial 15 Split Corp. (FTN) is extremely interesting for senior: the stock trade below 11$, and the dividend yield is HUGE! On the TMX website, the dividend yield of Financial 15 Split Corp. (FTN) is advertise as being of 14.15%!

And of course, as a dividend investor, I wanted to get that 14.15% in dividend income. You can get that dividend yield currently with Financial 15 Split Corp. (FTN). Yes, but that's being for now.

As for the next part, you might like to read this article written by Rob Carrick of the Globe and Mail.

My concern about Financial 15 Split Corp. (FTN) is for the long term. In a volatile market, the managers had been able to reach their objectives. but will be always the case, especially knowing that a 4% of the dividend yield is coming from the bank and the rest - something close to 9%, is being generated my the magic of options, among other. The dividend is made up and not natural, which could be dangerous for the long term.

Again, I don't have anything again Financial 15 Split Corp. (FTN), it's just I don't have any place for failures. I don't want to live another nightmare like of the type of Timminco (TIM). One of those is enough for a lifetime.

I just sell my 100 stocks of FTN

I decide to sell my stocks hold of FTN after reading an article of Carrick(?) of the Globe and Mail. A reader suggest me to sell, but for good reason. I sell my 100 stocks at 10.60$. I will explain a bit more about why I sell. I should had be more careful with this purchase. But my mountain lion man still got it. No time to write more, need to go to work.