Should I Take on Debt to Start A Business on The Side? (Money Q&A)

In this episode of the Personal Finance Podcast, we are going to talk about  should I take on debt to start my dream business on the side?


Today we are going to answer these questions:

Question 1:
Should I risk $40K from my home equity to launch my dream tutoring center or build more clients first?

Question 2:
Should I raid my emergency fund to max my Roth IRA upfront or play it safe and invest slowly?

Question 3:
Is going into student debt for film school in NYC worth it — and how do I avoid drowning in loans?

Question 4:
How do I figure out what my pension is really worth when planning my retirement?

Question 5:
What are legit remote side hustles to crush credit card debt if I love reading and editing?

Question 6:
Should I pay off a 20% credit card with my 7% HELOC — or leave it alone and pay it down slowly?



How Andrew Can Help You:


Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here https://bit.ly/3RSGhUH

Learn to invest by joining Index Fund Pro https://bit.ly/3Q6NajL ! This is Andrew’s course teaching you how to invest!

Watch The Master Money Youtube Channel! https://bit.ly/45pgXZm

Ask Andrew a question on Instagram   / mastermoneyco   or TikTok https://www.tiktok.com/

Learn how to get out of Debt by joining our Free Course https://mastermoney.co/debt-course/

Leave Feedback or Episode Requests here. https://mastermoney.co/contact/

Car buying Calculator https://expert-hustler-605.kit.com/d3...




Thanks to Our Amazing Sponsors for supporting The Personal Finance Podcast.



Shopify: Shopify makes it so easy to sell. Sign up for a one-dollar-per-month trial period at shopify.com/pfp


Thanks to Policy Genius for Sponsoring the show! Go to policygenius.com to get your free life insurance quote.


Indeed: Start hiring NOW with a SEVENTY-FIVE DOLLAR SPONSORED JOB CREDIT to upgrade your job post at Indeed.com/personalfinance


Go to https://joindeleteme.com/PFP20/ for 20% off!
DELL: Get a new Dell AI PC starting at $749.99, at Dell.com/ai-pc.


This episode is sponsored by Plaud https://www.plaud.ai/ — an AI wearable gadget that takes notes of meetings and calls. With Plaud, you don’t have to take notes and make summaries anymore.


Shop outdoor furniture, grills, lawn games, and WAY more for WAY less. Head to wayfair.com


Function is offering 160+ lab tests for $365 to anyone who signs up. To get started, visit www.functionhealth.com/PERSONALFINANCE


Get 50% Off Monarch Money, the all-in-one financial tool at www.monarchmoney.com/PFP






Latest Podcast Videos:


The Ultimate Guide to Becoming an Employer Match Millionaire (FREE MONEY)    • The Ultimate Guide to Becoming an Employer...  


The Fastest Way to Learn Anything with Pat Flynn    • The Fastest Way to Learn Anything with Pat...  


How Much Should Be in Your Emergency Fund (By Age!)    • How Much Should Be in Your Emergency Fund ...  


The Ultimate Guide to Managing Money Together as a Married Couple    • The Ultimate Guide to Managing Money Toget...  


How to Plan for Healthcare Costs (By Age)    • How to Plan for Healthcare Costs (By Age)  


9 Things You Need to Do to Become a Millionaire Next Door    • 9 Things You Need to Do to Become a Millio...  



Connect With Andrew on Social Media:


Instagram   / mastermoneyco  


TikTok   / mastermoneyco  


Twitter   / mastermoneyco  


Master Money Website https://mastermoney.co/

Master Money Youtube Channel    / @mastermoneyco  



Free Guides:


The Stairway to Wealth: The Order of Operations for your Money
https://mastermoney.co/the-stairway-t...


How to Negotiate Your Salary https://mastermoney.co/get-that-raise...


The 75 Day Money Challenge https://mastermoney.co/75-day-challenge/


Get out Of Debt Fast https://mastermoney.co/debt-course/


Take the Money Personality Quiz https://mastermoney.co/quick-quiz/