We make a million decisions for our health every day, financially and otherwise. Smoothie or donut for that “healthy” breakfast? Subway or cab to get to work? Contribute to our savings or buy that new handbag? As with everything in life, it’s all about priorities—and when it comes to two of the biggest financial decisions you’ll make, paying down debt and saving for retirement, you’ve gotta prioritize to pulverize.
So this week, we’re talking about attacking your debt in the most efficient way possible so you can pay it off and keep it off. Use my three steps to kick it to the curb! Next, it’s time to boost your savings in a big way. But first, you gotta know the lingo, so I’ll walk you through the differences between two of the biggest savings vehicles out there—the 401(k) and the Roth IRA—so you can decide what’s right for you.
And remember, your priorities can (and will) change over time as your financial situation changes: you get a raise, buy a house, maybe start a family. That’s okay! Just make sure to revisit your goals now and again to ensure that your money priorities are in line with those other priorities. You know…LIFE.