If you want to pay off debt, buy a home and save for the future, here's what to do first (via CNBCMakeIt)
This story is part of CNBC Make It's One-Minute Money Hacks series, which provides easy, straightforward tips and tricks to help you understand your finances and take control of your money.
Buying a house, saving for retirement, paying off debt: With so many competing financial goals and limited funds, it's hard to know exactly what to goals to focus on. But financial experts say there are three things to prioritize before anything else.specifically for unintended events, whether that be something life altering like a job loss or temporarily inconvenient like a broken cell phone., including enough to cover your housing payment, groceries, utilities, loan payments and more.
worth of expenses is more realistic. Ultimately, your goal should be to put away the amount that helps you sleep more soundly at night. If you're starting from zero and even three months of expenses seems overwhelming to save, start with whatever amount you can and build from there. Even a small cushion is better than nothing., although this will vary depending on how much you can reasonably afford. Ideally, this is done in tandem with contributing to your emergency savings account.contribution rate. Not doing so is almost like taking a pay cut.
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