I’ve done a dumb thing

I took a cash advance on one of my credit cards to buy shares.

Not only did the credit card provider charge me $75 (i was expecting $25) to use the cash advance facility, I’m also paying an exorbitant interest rate.

I bought these shares cause a friend told me they were a sure thing. They went up a little then plummeted.

They have slowly clawed there way back to almost what I paid for them. If I sold them now I’d be down around $500 for my trouble.

I have a feeling they’ll climb a little higher and once I’ve covered my costs of borrowing and brokerage I hope to sell out and walk away having learnt a valuable lesson.

I wont be using credit card money to buy shares in the future.