While you don't have to be entirely debt-free to start investing, you should be financially stable. Ideally, you should have a reliable source of income and some extra cash to set aside. If you are currently getting by on a paycheck-to-paycheck basis, you should find ways to increase your income before investing in the stock market. Before you get started with investing, you need to eliminate high-interest debt. It doesn't make sense to earn a 5-7% on your investments while accruing 20% interest or more on your credit cards. You should also have a decently sized emergency fund. Ideally, this fund should cover anywhere between three and six months of your necessary living expenses. In case you lose your job or need to foot a hefty medical bill, your emergency fund will help you get back on your feet.