It is often a good idea to pay off debts with high interest, such as credit cards, before putting money away. This is because the interest you pay on those debts may be higher than the interest you could earn on new savings. However, that does not mean you have to wait until you are completely free of all debts before starting to save. Most people stay in debt for many years - while paying off their mortgage, for example - but that does not alter the fact that it is a good idea to start saving for your retirement or for the future when you are in your twenties. You don't have to have a lot of money in order to be able to invest. You can invest a relatively small sum on a monthly basis.