Time is an investor’s most valuable asset, and that’s one thing millennials have. By starting early, millennials can put their savings to work earning compounding interest.

Of course, that same principle of compounding interest works against you with debt, especially as interest rates climb and make revolving credit card balances, for example, even more costly.

“A lot of millennials are so overwhelmed by their college debt, first home purchase and credit card debt that they put retirement planning and saving on the back burner,” says Aaron Rheaume, a financial advisor with Financial Enhancement Group in Indianapolis.

Paying down debt and investing, however, aren’t mutually exclusive. You can do both simultaneously. Start by prioritizing your investments and debts based on projected return versus the interest rate you’ll have to pay, says Jamie Hopkins, an associate professor of taxation at The American College of Financial Services in Bryn Mawr, Pennsylvania.

[See: 10 Skills the Best Investors Have.]

“If you have outstanding credit card debt, you might consider paying that down as fast as possible before investing, as the interest you are paying on credit card debt will be far more than what you are likely to receive in market returns,” Hopkins says.

With student loans, interest rates are equally important to consider but for a different reason — the interest on the debt may be less than what you would earn if you put that money to work for you in the stock market. According to an April 2017 report by the New York Federal Reserve, recent graduates have an average of about $34,000 of student loan debt, up nearly 70 percent from 10 years ago.

Even with a large outstanding balance, though, many student loans have interest rates well below 10 percent, which means investing in the stock market could provide better returns, says Jay Srivatsa, CEO of Future Wealth in Los Gatos, California.

The following ideas can also get you started on saving for the future while paying down debt.

Set up automatic contributions. Think of investing as a regular consistent habit, like working out at a gym, except that you make it happen automatically so that it’s effortless.

That’s why setting up voluntary contributions can help you get into the habit of making regular, consistent contributions, Rheaume says.

Consider having your employer automatically deduct a percentage or a certain amount from your paycheck before you see it, and deposit it into your 401(k). These pre-tax contributions from your paycheck will add up to even more if there’s a company match. If so, increase your deferral percentage to maximize this benefit, says Chelsea Nalley, Financial Planner at TrueWealth in Atlanta.

“Be sure to review your plan’s investment options and allocate the funds in diversified, low cost funds,” Nalley says. “If you know you won’t be looking at your account more than once a year, consider a target-date fund that lines up with your expected retirement time frame.”

Craig Bolanos, founding partner and CEO of Wealth Management Group in Inverness, Illinois, says investing enough to get the full company match should be your first priority after you’ve paid the monthly minimum on your student loan debt.

“After all, a 100 percent return on your money (via a match) is a better option regardless of what your debt’s interest rate is,” Bolanos says.

Another option is a dual-prong approach. If you have $500 to save a month, use $200 to pay off debt and put the rest in a 401(k) or an exchange-traded fund that tracks the Standard and Poor’s 500 index, Srivatsa says. If you don’t have an employer-provided plan, consider opening an IRA, says Jeremy Walter, a registered investment advisor with Fident Financial in Lancaster, Pennsylvania.

Because millennials have low tax rates, Hopkins recommends that they save in Roth IRAs and Roth 401(k)s. Roth accounts are especially beneficial if you expect to be in a higher tax rate in retirement, when withdrawals are tax-free. As for how to invest money in a Roth, “with today’s interest rates and bond yields, millennials should consider being 100 percent invested in equities,” he says.

[See: The Top 10 Investment Portfolio for Millennials.]

Put your spare change to work. Ash Exantus, director of financial education and a finance empowerment coach at BankMobile in New York, likes the “set it and forget it” autopilot nature of Acorns, a micro-investing app that connects your accounts and credit and debit cards so that every purchase you make is rounded up to the nearest dollar and then invested using the spare change.

Each portfolio consists of six different exchange-traded funds across asset classes such as large- and small-cap companies, emerging markets, government and corporate bonds, and real estate. According to the website, the money is diversified across 7,000 stocks and bonds based on fractional share investing. College students can sign up for free with an .edu email address for up to four years, but other investors will need to pay $1 per month for accounts with a balance under $5,000 and 0.25 percent per year for balances of $5,000 or more.

“Passive investing is a great way to invest, even if you are in debt, because it allows you to invest your small change without significantly impacting your budget or debt reduction plans,” says Exantus, who adds investors aren’t going to miss the few extra cents but can easily “get in the game” this way since Acorns’ method lets people keep their same habits and spending behaviors.

Choose wisely. Even though it may be tempting to get out of debt by borrowing money to invest — sometimes referred to as leveraging — don’t do it, Walter says.

“I’ve heard stories of folks borrowing money, either from their house equity or from friends and family, to invest, and if the investment turns sour, you’re left in a terrible situation with even less resources to repay the debt,” Walter says.

Or maybe you feel “undersaved” because so much of your cash goes toward paying off debt. Resist the temptation to reach for larger, riskier investment returns to try and make up the difference.

“Don’t get caught in the cycle of high-risk investing for your retirement,” Bolanos says. “Stick to low-cost index funds that can provide sound diversification.”

On the other hand, some millennials invest too conservatively, which means lower returns and less wealth accumulation long-term, Hopkins says.

He recommends avoiding bond funds now because as interest rates rise, bonds will suffer and be poor long-term investments for millennials. Equally important: Don’t overreact to the next market drop.

[See: U.S. News & World Report’s 10 Top-Ranked ETFs.]

“Have a sit-and-wait investment approach,” Hopkins says. “This means don’t pull out of the market when the next downturn occurs, because it will occur.”

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How Debt-Laden Millennials Can Invest originally appeared on usnews.com