Ok so I have history of being a true financial f***up. I am about to finish my Master’s degree in Radiology Administration which will hopefully make me more money (not rich slowlane) to help pay my debt. I have quite a bit of debt so it make take me a while to pay it all off. My question is do I need to focus on being completely debt free before starting a business ( will take several years) or do I focus on starting a side business now to pay off all my debt faster?? My dad was a high school drop out and hunted by the IRS for not paying taxes and my mom is doing well but has only taught me about saving and sacrificing everything in order to retire for minimal income in my 60s and 70s. I have a few business ideas and I am ready to get started but is it wise to do if I am in debt? Married with a 13 year old stepdaughter. Any and all thoughts will be greatly appreciated. And yes I am working and making roughly 50k a year and my wife works too. Lived outside my means and looking on steering my financial ship in the right direction.
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