Many people are eager to get started in the stock market, but other financial obligations are holding them back. You can (and should) start investing even if you have debt Paying off debt and building wealth doesn’t have to be an either-or decision. You can do both at the same time, and will likely come out further ahead with this strategy rather than focusing on one above the other. However, there are circumstances in which investing while you have debt is not a good idea. Namely, when your debt balance is very large or at a high interest rate. Likewise, the savings side of your budget determines if you can afford to invest at all. Is your debt balance greater than $25,000? Even at low interest rates, large debt balances are expensive. If your debt balance rivals your annual salary, you want to get it below the threshold of $25,000 before you […]
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