Having too much debt can hinder building wealth and saving for retirement. Experts share strategies for managing debt repayment and wealth building simultaneously. Paying off debt before investing can yield higher returns. Contributing to retirement plans while paying off debt is crucial for long-term financial health. Reviewing bills and cutting unnecessary expenses can free up cash for debt repayment. Consider contributing to an emergency fund while paying off debt to build financial resilience. Establish a budgeting method that works best for your financial goals. Explore options like balance transfers and debt consolidation loans to lower interest costs and accelerate debt payoff. Remember, these tools should not be used as an excuse to take on more debt.

Read more at Yahoo Finance: 7 Tips for Balancing Debt Repayment and Wealth Building