The Great Debate: Pay Off Debt or Invest | Smart Money Moves for Black Women 💵

[@moneycoachmalika]

💰 Apply to Enroll in the Invest With Ease Group Coaching Program moneycoachmalika.com/product/investwithease

[@dominiquebt]

Great info! Thank you:) My goal last year was to pay off CC debt, invest and save for a rainy day before my planned work departure last August. I lived off very little income during the time, but it felt so good to meet the goals, especially to pay off the debt. Could not have done it without you and Adalia!

[@moneycoachmalika]

You made a short term sacrifice to live your dream for life. I love that! CONGRATULATIONS!! 🎉

[@kemi1486]

This was very sound advice Malika👌🏾. I will have all my consumer debts paid off at the end of this year 🙌🏾. Prioritizing debt payoff while also saving to increase emergency funds and practice investing with my new brokerage account you have inspired me to open.

[@moneycoachmalika]

Yay @ consumer debt freedom this year! 🙌🏾

[@moneycoachmalika]

What is your financial priority this year - paying off debt or investing?

[@MegPank]

I just found your channel because one of your other videos popped up in my feed. I wanted to learn about and start investing this year to make up for not knowing about it when I was younger. However, since I have consumer debt, I think this year, I need to focus on earning more money and paying off my debt.

[@moneycoachmalika]

If paying off debt will help you sleep better at night, then it’s a great decision. Just make sure you’re not leaving free money on the table.

[@healingonesmindset]

Excellent question & explanation! ❤🙌🏾💯💅🏾

[@moneycoachmalika]

Thank you, glad it helps! 💖

[@angiemo0724]

My financial priority this year is investing. My debt consists of my mortgages. No car payments or credit cards. 🙂

[@moneycoachmalika]

Aayyee!! Make them money babies, sis! 💰👶🏾💖

[@clarenceishmael9615]

I'm not a woman so I hope that's ok? Fortunately I was obsessed with becoming debt free long before I even knew what investing was. So glad I did because investing mortgage and debt free is a breeze! 😊

[@moneycoachmalika]

Hi Clarence, yes it’s ok and thanks for watching! Everyone is welcome here and Black women will always be centered. Congratulations on being debt free!

[@malaysia1911]

Thanks for the video!

[@moneycoachmalika]

You’re welcome. 💖

[@venuskirby8243]

Good morning ❤

[@moneycoachmalika]

Hey financial bestie! 💖

[@the_epileptic_wanderer]

Good morning!

[@moneycoachmalika]

Hey hey, financial bestie! This is the video you requested. I hope it provides clarity so you can decide what is best for you. 💖

[@the_epileptic_wanderer]

Definitely! This helps tremendously on helping me prioritize how to handle my finances this year.

[@moneycoachmalika]

Yay! That makes me happy. 😊

[@daniellejones8460]

Would having an HSA be a caveat to paying off debt first along with an employer sponsored retirement account? Or should I use that money for the HSA to pay off debt?

[@moneycoachmalika]

It depends on your total financial picture: income, expenses, debt balance, interest rate, financial goals, etc. To discuss your individual circumstances, please schedule a call on my website. moneycoachmalika.com