Step #3: Get some emergency savings
| Next it's a good idea to build up
some emergency savings. Three to six months of income that is
in a safe investment that you can get to. A money market
account is a good place for this money, but you should ask your
financial advisor on the best place for this money. Emergency
savings are to be used for just that, emergencies. This way
you don't have to run up your credit card again if your car breaks
down or you lose your job or whatever. It will allow you some
breathing room. Get this savings, it's key to staying out of
debt when those crisis occur. |
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Step #4: IRA and 401k
