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

In this episode of the Personal Finance Podcast Money Q&A,  we are going to talk about  should I take on debt to start my dream business on the side? Watch this episode on Youtube 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:  Listen to The Business Show here. Don't let another year pass by without making significant strides toward your dreams. "Master Your Money Goals" is your pathway to a future where your aspirations are not just wishes but realities. Enroll now and make this year count! Join The Master Money Newsletter where you will become smarter with your money in 5 minutes or less per week Here! Learn to invest by joining  Index Fund Pro! This is Andrew’s course teaching you how to invest!  Watch The Master Money Youtube Channel! , Ask Andrew a question on Instagram or TikTok.  Learn how to get out of Debt by joining our Free Course  Leave Feedback or Episode Requests here.  Car buying Calculator here 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   Links Mentioned in This Episode:  5 Side-Hustles That Can Turn into a Full time Income! 5 Side-Hustles That Can Turn into a Full time Income! (Part 2) Connect With Andrew on Social Media:  Instagram  TikTok Twitter  Master Money Website  Master Money Youtube Channel   Free Guides:   The Stairway to Wealth: The Order of Operations for your Money  How to Negotiate Your Salary  The 75 Day Money Challenge  Get out Of Debt Fast  Take the Money Personality Quiz Learn more about your ad choices. Visit megaphone.fm/adchoices