Why Paying Debts Comes Before Investing in Financial Planning
Many people use financial planning as a tool to steer themselves to a brighter future. When people speak with a certified financial planner, they often want to jump to the growth part of the story. However, paying debts is usually what a financial planner wants to talk about first. Let's examine why paying debts normally comes before investing and growing your money. Debt Imposes Headwinds Even if you're getting excellent returns, say 10% per year, paying on debts at the same time pulls that down.