Invest or Pay Off Debt? The Good, the Bad and the Ugly Debt and How to Get Out of Debt Fast | EP 20

Download your free investing e-book here:https://moneyandfreedom.com/free-yourself/ In this episode of Money and Freedom, Beile discusses the relationship between debt and investment. She emphasizes the importance of understanding different types of debt, the risks associated with using debt to invest, and provides practical strategies for overcoming debt. The conversation highlights the significance of financial education, budgeting, and the mindset needed to build wealth after addressing debt. Chapters 00:00 Invest or Pay Off Debt? Quick Debt Overview & Why It Matters 01:15 Reason #1 – Invest When Returns Beat Interest Rates 02:10 Reason #2 – Build Investing Experience & Compound Knowledge 03:00 Reason #3 – Motivation: Watch Your Wealth Snowball 03:30 Avoid Leverage: Why Borrowing for Stocks Can Wipe You Out 04:00 Good Debt vs Bad Debt: Mortgage, Student Loans, Business 04:30 How to Get Out of Debt Fast 08:00 Trick #1 – Spend Less Than You Earn 08:50 Trick #2 – Pay Up-Front & Ditch Credit-Card Fees 09:20 Trick #3 – Minimalist Spending: Stop Impulse Buys 10:00 Trick #4: Think in the Future 10:20 Trick #5 Your Income 12:30 Trick #6: Invest and Use Compounding for You