Whether you should pay off debt before investing depends on the type of debt you have, the interest rate, and your overall financial situation.
In general, high-interest debt may be worth prioritizing because it can grow quickly and limit your financial flexibility.
A balanced approach may include:
- Paying down high-interest debt
- Making minimum payments on lower-interest debt
- Building a basic emergency fund
- Contributing to long-term savings when possible
- Reviewing your plan regularly
The right strategy depends on your goals, timeline, and comfort level with risk.