Experts Rank Top Financial Priorities
TweetWhat should be your top financial priority? Experts chimed in and created this complete list:
- Live within your means
- Protect yourself with adequate insurance
- Build an emergency savings account
- Establish life insurance for wage earner(s)
- Understand short and long-term goals
- Communicate with family
- Pull credit report
- Know amount of debt/have a payoff plan
- Ensure job security
- Perform a regular financial check-up
- Spend less than a third of income on housing
- Have a will/financial and health-care power of attorney
- Know your partners' financial personality
- Pay yourself first
- Take advantage of savings programs available at work
- Calculate what you will need for retirement
- Understand the time value of money
- Experience change before it happens
- Spend wisely
- Understand financial terminology
- Save at least 10 percent of what you earn
- Make tax time financial planning time
- Understand investing risks vs. returns
- Budget for anticipated holidays/celebrations
- Understand income
- Use credit responsibly
- Manage service providers
- Understand and take advantage of workplace benefits
- Prepare a financial emergency kit
- Protect financial documents
- Track spending
- Keep up on maintenance