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

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Do you have a financial question you'd like one of our Financial Nerds to answer? Submit your questions at and watch for our response on an upcoming episode!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: 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 Explanation2:20 – Ideas to increase business income2:50 – How people, processes and procedures can be your best retirement plan.3:30 – Business Wealth vs Personal Wealth5:00 – Ideas to help you free up some cash6:55 – Where does Economic Independence come from when you own a business?***If you enjoy the podcast, consider leaving a short review on Apple Podcasts/iTunes for us. It takes less than 60 seconds, and it really makes a difference. I also love reading the reviews!Check Out Garrett's Books:Killing Sacred Cows - Would the Rockefeller's Do - with Garrett:Facebook: