Planning for the Future

Dave tells Joel that getting out of debt is his first priority once he's out of college.

QUESTION: Joel is a college student who owes $3,500 on his car and will owe $15,000 in student loan debt at graduation. He wants to know what he can do to plan for his future since he’s not earning a steady income.

ANSWER: Get out of debt first is your very first priority. Pay off your debts smallest to largest. Build up a baby emergency fund of $1,000 and then start working out of your debts. You don’t need to plan for THE future, you just need to get out to school.