Quick Look
- Decide if you’re going to use your extra cash to pay down debt more quickly, invest it, or do a little of both.
- Add either the Pay Off Debts More Quickly checklist or the Make Additional Investments checklist to your MoneySwell plan and follow the subtasks in that list.
Contents
Worry less about making the “perfect” decision and focus on taking action.
Time to Get To It
At this point, you’ve done the math. You calculated the financial impact of paying down debt more quickly vs. investing your extra cash.
Additionally, you’ve considered your own psychology. You’ve asked yourself if you would prefer to guarantee paying less money in interest vs. the potential larger growth of investments.
Based on both financial and psychological factors, you’ve made a decision and now it’s time to act. Follow the steps in the “Pay off Debts More Quickly” checklist, or follow the steps in the “Make Additional Investments” checklist. If you want, you can split your extra cash between paying down debt faster and investing to get a little benefit from both.
in Boulder and San Diego.