22 min
20: Why You Should Start Investing Before You’re Debt Free Girl on FIRE
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- Investing
🎙 Popular advice will tell you to pay off your debt first before you start investing. But following that advice means that you could be leaving tens of thousands of dollars on the table when it comes time to retire. It’s important to set a solid financial foundation before you start investing. You need to learn how to manage the money you already have before you start making more. But that doesn’t mean you need to follow outdated and unhelpful (and often expensive) advice. But then, what comes first? 🤔
This episode discusses topics like: 🌟 What your #1 financial priority needs to be regardless of the current state of your finances;
🌟 Why you need to start investing before you become debt free and why the popular advice about this from Dave Ramsey is so wrong; and
🌟 How to start investing when you still have debt, and how to become totally debt free.
Links from this episode: Episode transcript & show notes: https://www.papermoneyco.com/20-save-debt-invest-first
Dave Ramsey’s Baby Steps: https://www.ramseysolutions.com/dave-ramsey-7-baby-steps
Time codes: 00:00 Hello & Welcome! - https://www.papermoneyco.com
02:44 Common Advice About Saving, Debt & Retirement From Dave Ramsey
11:48 Should You Save, Pay Off Debt or Invest First?
20:46 Next Weeks’ Episode
Remember to: Join our exclusive community by becoming a Patron: https://www.patreon.com/girlonfirepodcast
🤩 Subscribe so you don’t miss any future episodes.
🏆 Rate and review the show on Apple Podcasts: https://www.papermoneyco.com/podcastreview
Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!
💖 I'd be super grateful for your help in making financial education available to everyone.
The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.
🎙 Popular advice will tell you to pay off your debt first before you start investing. But following that advice means that you could be leaving tens of thousands of dollars on the table when it comes time to retire. It’s important to set a solid financial foundation before you start investing. You need to learn how to manage the money you already have before you start making more. But that doesn’t mean you need to follow outdated and unhelpful (and often expensive) advice. But then, what comes first? 🤔
This episode discusses topics like: 🌟 What your #1 financial priority needs to be regardless of the current state of your finances;
🌟 Why you need to start investing before you become debt free and why the popular advice about this from Dave Ramsey is so wrong; and
🌟 How to start investing when you still have debt, and how to become totally debt free.
Links from this episode: Episode transcript & show notes: https://www.papermoneyco.com/20-save-debt-invest-first
Dave Ramsey’s Baby Steps: https://www.ramseysolutions.com/dave-ramsey-7-baby-steps
Time codes: 00:00 Hello & Welcome! - https://www.papermoneyco.com
02:44 Common Advice About Saving, Debt & Retirement From Dave Ramsey
11:48 Should You Save, Pay Off Debt or Invest First?
20:46 Next Weeks’ Episode
Remember to: Join our exclusive community by becoming a Patron: https://www.patreon.com/girlonfirepodcast
🤩 Subscribe so you don’t miss any future episodes.
🏆 Rate and review the show on Apple Podcasts: https://www.papermoneyco.com/podcastreview
Podcast reviews are crazy important to the iTunes algorithm. The more reviews we receive, the more likely we’ll be able to get this podcast in front of more people and grow the PMC Squad!
💖 I'd be super grateful for your help in making financial education available to everyone.
The advice shared on Girl on FIRE is general in nature and does not constitute financial advice. The information shared does not consider your individual circumstances. Girl on FIRE exists purely for educational purposes and should not be relied upon to make an investment or financial decision.
22 min