Pay Down Debt, or Invest my Money
•January 24, 2024•
Cheri Burcham
Extension Educator
University of Illinois Extension
Should I pay extra on my student loan or invest in a Roth IRA? Build up an emergency savings fund or pay off my credit card debt? Pay off my mortgage or put more money in my 401(k) re-tirement plan? These are great and common questions. Kathy Sweedler with University of Illi-nois Extension has written this great article to address that trending question - “Is it better to pay down debt or build up savings and investments?”
Kathy says that like many real-life questions, the answer is not black and white. The answer is likely to be based on both objective information as well as personal values. Here are two ques-tions I suggest asking yourself: “How can you get the most out of your dollars and what’s im-portant to you?”
Best buy for your dollar.