Should You Invest or Payoff Debt?

#debtfreejourney #debttracker #financialindependence

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DISCLAIMER: I am not an expert or a financial advisor. I simply love talking about finances and want to share my journey to financial freedom and help others along the way!

[kmque]

Hey Leila, tho personal choice, I recommend both, even if interest rate above 6% can’t turn down 401K match. One will never get back time + compound interest- cut something else.

[madisonblanding]

yay for the mint mobile sponsorship!🎉 i’ve been with them since i was in college, love how inexpensive it is and the service is great.

i’m 22, so becoming debt free is most important to me right now. 2 credit cards down, 3 to go. working hard to pay off 2 this month🤞🏽🙏🏽 after that, car, student loans, and my mom’s parent plus loans! my end goal is to one day be able to invest all this money i have to throw at debt and be set for life!💗

[robertmorris]

Great video, Leila. Glad You touched on this subject.

[vulpixelful]

Since all I have is student loans right now and I don't have cc debt, I'm both paying down a bit if debt but focused on investing. Reason being that the federal student loan payment obligation is flexible if I lose my job, but there's no loan for retirement 😬

[jaelasam]

You're so right, Leila. Debt payoff vs. investment is a personal decision that everyone in the situation needs to make based on where they are at and where they would like to be. Often times, we see only the short term but not the long term and that can keep us chained to fear and hinder us achieving all that is possible. I watched Rachel's video couple days ago and I completely understood where she was coming from and while many people wouldn't necessarily agree, it's a risk that I believe if executed correctly can have huge gains for financial freedom in a few years. Great video as always 💞

[abbyc.]

I was considering going to Mint Mobile too, but I saw that T-Mobile is buying them out and was curious about how that would work out. Thank you for another awesome video, Leila!

[DebtFreeJessie]

I love that you start the video saying everyone is in a different situation.
Haha, yay for partnering with Ryan Reynolds🎉 Almost my whole family has switched to mint now.
We are balancing investing and debt payoff.

[julsh]

There is no right or wrong especially when it comes to pay a mortgage.

[mirabai]

I wonder how Mint's great features/price will be impacted by it being acquired by T-mobile.