Happy Monday! There’s a common idea that you should pay off all your debt before you even think about investing. But is that always the most practical approach?
If you have high-interest debt, paying it down can make sense since the interest you’re paying could outweigh potential investment returns.
But that doesn’t necessarily mean investing has to wait. For some people, putting a small amount toward investing while paying down debt can help build the habit and keep long-term goals moving forward.
There’s no one-size-fits-all answer. It depends on your debt, interest rates, budget, and goals.
What works best for you: focusing on debt, investing a little while paying it down, or something else?