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There’s no shame in having some unavoidable debt in your 20s and 30s.

However, it’s CRUCIAL to build a financial foundation of strong personal finance habits in order to advance to the next step of your financial life — wealth accumulation.

Until you have an understanding of the resources you’re working with, it’s hard to make decisions on how to maximize the free cash flow you have to pay down debt and ultimately, grow your net worth.

In this podcast episode, I discuss the pros and cons of investing versus paying down debt. This includes different debt repayment approaches such as “Snowball” versus “Avalanche”.

Although one may be more “mathematically” advantageous, the other provides the behavioral momentum to keep you on track towards progress.

I also discuss investing in the stock market and how that isn’t necessarily the right thing to do when you’re building your financial foundation. The market will still be around when you’re ready to start aggressively investing on an ongoing basis.

Best to develop valuable personal finance micro habits in the beginning! That way, you’ll be better equipped to avoid lifestyle inflation when your income inevitably increases!

Click the links below to access your desired platform to listen!

The full DO MORE WITH YOUR MONEY podcast episode is available on Apple PodcastsSpotify, and YouTube.

Lastly, don’t forget to connect with me on Twitter:

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