16. Debt, Saving, Investing - Which Comes First?

Freelancing Your Way to Financial Freedom

In this episode of the Debt-Free CEO podcast, we discuss the order of prioritizing debt, saving, and investing. Paying off high-interest consumer debt is the first priority, followed by building a small emergency fund. We compare investing money versus paying off low-interest car loans and highlight the importance of having an emergency fund.

We also provide information on HSAs, FSAs, and Roth IRAs as investment options. Real estate is mentioned as a good investment, and we emphasize the importance of spending less than you earn. Check out previous episodes for more financial advice and upcoming interviews with a financial advisor.

In this episode I share:

• The interest rate on your credit cards will determine what to pay off first
• Benefits of a high yield savings account
• Changes to make when it comes to emergency funds
• Best type of savings account to help you save more
• The order in which you should invest your money

Visit the Show Notes:

• https://meganmendez.com/episode16

Resources:

• 15-Minute FREE Clarity Call
• Start your digital marketing business today
• Ditch the 9-5 and Go Debt-Free
• Finances as a Freelancer: How to pay yourself monthly
• Free Budget Template
• Free Training: How to Start Your Freelancing Business to go Debt-Free
• Passion to Profit and On to Debt-Free Workbook

Previous Episodes:

• Ep. 5 - The Framework to Going Debt Free: What I Would Do if Starting Over
• Ep. 10 - Using the Debt-Free Method to Help You Save Money
• Ep. 11 - What Debt Do You Pay Off First?
• Ep. 14 - The Debt Avalanche vs. The Debt Snowball Method

Connect with Megan:

• Follow on Instagram @thedebtfreeceo
• Website - meganmendez.com
• Join The Debt-Free CEO FB Community - The Debt-Free CEO Community
• Email - [e-mail]
• Pinterest - pinterest.com/meganmendez__/