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Back to EpisodesEp.165 Should You Pay Off Debt or Invest First?
Season 1
Episode 165
Published 1Â year ago
Description
Should You Pay Off Debt or Invest First? 💰📉
The golden rule: Compare your debt interest rate to potential investment returns.
✔️ If debt interest is >7% → Pay it off ASAP (it’s costing you more than investing would earn).
✔️ If debt interest is <7% → Invest while making minimum payments (your money can grow faster).
🎯 Example:
- Credit card at 18%? Kill that debt now.
- Mortgage at 3%? Investing likely makes more sense.
💡 But don’t ignore emotions—some people just sleep better debt-free. Do what works for YOU!