056. Paying Debts Vs. Building Savings / Ask The Money Nerds

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When starting a business, it can be difficult to know how much money to put towards business development and debt reduction without hindering cash flow. In today’s Ask The Money Nerds segment of the Wealth Labs podcast, we answer Alissa's question. Together we explore this cash flow dilemma and give you some practical ideas you can implement to navigate this situation or a similar one so you don’t starve your business.

For more tax resources visit: https://Wealthfactory.com/tax

Time Stamps:
1:10 – From Alissa: My income is limited and I am looking at contributing to my retirement savings, however, I have a fair amount of student loan debt and between debt, retirement and savings I am not sure where to put my money.
1:48 – Cash Flow Index Explanation
2:20 – Ideas to increase business income
2:50 – How people, processes and procedures can be your best retirement plan.
3:30 – Business Wealth vs Personal Wealth
5:00 – Ideas to help you free up some cash
6:55 – Where does Economic Independence come from when you own a business?
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