I'm Overwhelmed! How Do I Prioritize My Expenses?

Eric is 20 and wants to know how to prioritize saving for this next decade of his life.

QUESTION: Eric is 20 and wants to know how to prioritize saving for this next decade of his life.

ANSWER: It is overwhelming if you have to do all that today, but you’re not doing it today. The most important thing to do today is to finish college. If you are getting married, then that is next. The car is after that. After that comes traveling or kids. You just prioritize whatever it is you want to do and do it in that order. That’s how you eat an elephant: a bite at a time.