Right now I'm 23, decent job ($50k/yr), about $6k in the bank, and about $50k in debt (car loan, student loan, no credit card debt or other 'high interest' debt). I'm about to start putting roughly 8-10% of paychecks into my 401k but havent as of yet.
I have been saving money by budgeting and just cutting spending (admittedly WAY too high but that's a different matter) but the money I save is just sitting stagnant in my bank account with no interest. Monthly, it seems I spend a certain amount $1700-2k and then make back $2200ish, so saving $200-500ish. The other ~$4k in my account does nothing, so I'd like to put it to use.
I've been learning about investing in the stock market, watching trends, investing in paper trading to simulate trades, reading what analysts say, etc. and it looks like a route I may want to go down. In particular I have been watching a specific company. They have been on a pretty steady gain for a long time and as of the recent year have been climbing fast. Also I have been reading about a 4th quarter share buyback and how many analysts expect it to climb even higher. I was thinking of buying roughly $2200 of the stock to get some of my stagnant money moving and hopefully get some decent returns. Is that a good idea or should I put it somewhere else (perhaps just a savings account)?