Should You Invest or Pay Off Debt? The Surprising TRUTH.

Should you invest or pay off debt? Despite what you might have heard, the answer isn't always so clear cut! Today, we're breaking down the pros and cons of investing vs paying off debt and we're giving you some real life numbers to show whether paying of debt or investing money leads to building wealth faster over time.

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We are Tasha & Joseph a millennial couple balancing kids, jobs, money, and life.

One Big Happy Life is our website which focuses on creating a life you love by finding the right balance between your personal and financial goals.

Life isn’t just about one thing but money touches on just about everything. Personal finance doesn't have to be complicated or overwhelming.

Our goal is to empower you to take charge of your money and create the life you want.

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This video is for informational purposes only and does not constitute legal for financial advice. Please consult an attorney or certified financial planner who will put your interests before theirs.

[Abidjan-weekly]

Wow Tasha. You are looking like a beautiful modern queen. We need hair, skin, makeup, and style tutorials please.

[jamie]

How stable is your situation? If it's very stable, invest. If it is not, pay off debt. That may seem counterintuitive, but if stable you can carry debt easier, and we know investing pays off better the longer you are invested. If unstable, having lots of debt can make certain moves impossible and really limits what you can do if you are forced to make a move.

[LilannB]

My focus is paying off debt for the peace of mind. I'm earning a lot of money now but I know that can change. If there is a change in the economy and I lose my job or have to take a lower paying job. I'd rather be in a position where all I have to pay is for the basics: rent, utilities, food, gas. Rather then having to pay for those necessary things and a car, and credit cards and other debts. If things go south I could probably stay afloat with my saving for awhile and without debt it wouldn't be the end of the world if I had to take a lower paying job.

[TheBemused]

We have very similar viewpoints on this. Right now, I’m in rapid debt paydown (not payoff!) mode for all of my debt above 5% after having already built my 6 month emergency fund and investing in my retirement plan up to the match. I’m also making sure I’m enjoying my life along the way! -Akeiva

[staciamj]

I think it depends on the debt. Credit card debt needs to go.

[RacquelNM]

I must say that I was a bit apprehensive when you said paying off debt should not always be the main priority when investing, but when you came with the numbers, I was shocked to see the difference it made. Thank you for sharing unpopular views and backing it up with examples! You guys make very useful content.

[FeoshiaHDavis]

You all are saying something new and different in this space. I am HERE FOR IT. Thanks Tasha and Joseph. You have a bright future ahead. I know it.

[Veerow]

Unrelated, but where is your blouse from, Tasha? It’s so pretty!

[Grambi]

Thank you for taking the time to create, and share this video! Also, thank you for breaking things down to help us get a better understanding of the subject matter. I started following you from the TFD, and am so glad I did! : )
I'm all signed up for the Masterclass this Thursday, and am super excited about it? Will we as participants have the ability to ask questions during the class, and or is there a way for ask submit questions prior?

[ThePricklyash]

Thanks for explaining this, it’s not so easy to understand this, you explained it well

[WellBehavedWallet]

I agree with this viewpoint for sure ... Debt freedom is often touted as the "status symbol" and does give that psychological boost, but the ultimate goal is financial freedom! My student loan with a balance of $13, 800 is sitting at 2% interest. Paying it off is not my main goal. My main goal is building an emergency fund that will sustain me for anything unexpected first and then looking at my total financial picture. Thank you so much for sharing this knowledge! xWBW

[TehBryanxx]

considering i graduate in a month or two. this is V important for tyyyy

[lisasachse]

Wow, this is so GOOD! Thank you so much for making this clear for us! ❤️❤️

[savelikeaprowithleah]

Utility bill is different than major Debt. So I will make sure that everything before I invest anywhere else.Thanks for sharing!

[raelchebii]

Thanks. I have been contemplating about this ❤

[johntiedemann]

Thank you so much for this value show😁!

[caperi]

Thank you for sharing this information. It could have been helpful to actually see on the screen all the numbers and maths you talked about it.

[alecpulianas]

Really enjoyed this video - it’s something I’ve thought about a lot myself. I agree with your conclusion however something that has been mentioned to me that wasn’t covered was the impact of having a lower debt load when trying to get your home loan. Does that situation change your opinion?

[lynnplans]

I think the hard part about this discussion is assuming that there are only two options - pay debt or invest in mutual funds. When there are more options (which would be normal) it makes the choices a lot more complicated! Good discussion of pros and cons! We choose to do both, not one or the other!

[kayleighmoliver]

Really good point about how society views regular monthly bills to other debts.