"Should I Invest OR Pay Off My Debt?" (Patreon)

Investing = having your money make money.
Debt = someone else making money off you.

Think of both of these terms as two sides of the same coin. However, doing both at the same time might not be the most beneficial way of increasing your net worth.

INTEREST EXPENSE aka what you pay creditors to hold on to these loans will likely always outweigh the PROFITS you get from investments. Therefore, 9 times out of 10 it is usually always essential to remove your debt FIRST.

However, if the interest on your debt is extremely low (school loans) or essential (mortgage & car loans), it may not be worth paying off thousands and thousands of dollars just to remove a very small monthly expense.

Determining which route to go first is unique to each person.