How to Decide Whether to Invest or Pay off Debt
Make a list that includes all of your liabilities.. Create a list of everything that you bought with borrowed money.. Combine the two lists.
Steps
1
Make a list that includes all of your liabilities.
Make a list that includes all of your liabilities.
2
Create a list of everything that you bought with borrowed money.
Create a list of everything that you bought with borrowed money.
3
Combine the two lists.
Combine the two lists.
4
Separate your good debt from your bad debt.
Separate your good debt from your bad debt.
5
Eliminate all of your bad debt before you invest.
Eliminate all of your bad debt before you invest.
6
Consider investing once you only have good debt.
Consider investing once you only have good debt.
7
Consider the risks of investing.
Consider the risks of investing.
8
Avoid incurring more bad debt once you've started investing.
Avoid incurring more bad debt once you've started investing.
9
Look at the big picture.
Look at the big picture.
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