What Are Your Financial Priorities?
April 24, 2006 by Erik Folgate
Filed under Random, Spending and Saving
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.ÂÂ
- Pay for the necessities (food, utilities, shelter, clothing)
- Pay off debts
- Save for a bigger emergency fund
- Save for a newer car
- Give to Others.
- Buy newer furniture.
- Save for retirement
- 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.ÂÂ
Anyway, post your priorities, and then evaluate if your income allocations line up with these priorities.ÂÂ
Comments
One Response to “What Are Your Financial Priorities?”Trackbacks
Check out what others are saying about this post...[...] What are the alternatives? In terms of financial investments, you must always ask yourself what else you would be doing with this money if you did not invest it at this time. This is a very important question to ask. You should NEVER be investing money when you are having trouble paying your bills! That just does not make sense. This goes back to my post about setting your financial priorities. You must have your financial priorities set before your start investing money. On the other hand, if investing the money keeps you from buying stuff that you do not need, then you should probably invest it! [...]