You have debt. What should be your plan? Follow these 6 steps.
Before you get started, write out your plan. Set goals for each month. Cut out your unnecessary expenses. Take any pay increase you get and apply directly to the step you are on to expedite the process.
1. Fully fund your emergency funds ($1,000 or 1 month expenses, whichever is more)
2. Contribute to your 401k/403b up to match (skip if not offered)
3. Pay off all debts (except mortgage)
4. Save up 3-6 months of expenses
5. Invest in tax advantage accounts, like a Roth IRA
6. Invest in taxable accounts
Find out Jonathan’s six step plan to remove debt, invest, and maximize your money!