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What Are Your Financial Priorities?

By Erik Folgate

I thought that I would ask all of you out there in the personal financial blogosphere a question.

What are your personal financial priorities?

I will share with you mine and my wife’s priorities to give you an idea of what I am talking about, and I would love to read what yours are in the comments section. 

  1. Pay for the necessities (food, utilities, shelter, clothing)
  2. Pay off debts
  3. Save for a bigger emergency fund
  4. Save for a newer car
  5. Give to Others.
  6. Buy newer furniture.
  7. Save for retirement
  8. Pay off mortgage.

Those are just a few of our most pertinent financial priorities.  I think that it is very interesting how everyone’s priorities change given their current life situations.  We don’t have kids yet, but if we did I am sure that college savings and other financial priorities associated with kids would be factored into my list. 

Anyway, post your priorities, and then evaluate if your income allocations line up with these priorities. 

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

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