Sometimes, you just need to get back to the basics. On this episode, we walk through the 8 Money Milestones. Let’s go.
You can download the episode here.
8 Money Milestones:
- Milestone 1: Start giving
- Milestone 2: Save $1,500 for a minor emergency.
- Milestone 3: max out your 401(k) or 403(b) match.
- Milestone 4: Pay off all debt except your mortgage.
- Milestone 5: Save 3-6 months of living expenses for a job-loss level emergency.
- Milestone 6: Put 15% of your gross income to retirement.
- Milestone 7: Save for college or pay off your mortgage.
- Milestone 8: Live generously.
Determine your next money goal. Use the 8 Money Milestones as your guide. Do you need to get rid of debt? Do you need to set aside money for emergencies? Do you need to save for retirement? Identify your next goal and chase after it.