#48 5 Money Essentials
Looking at your finances can feel overwhelming, and questions like "where do I start?", "what do I do first?", and/or "but, how?" are extremely common (even for me!).
In this episode I break down the Top 5 things I believe are the most important money things to do, in order of priority.
Here is a summary:
- Set up your Emergency Fund, with 6 to 12 months of living expenses in there
- Pay off debt with the highest interest rate first, and then move down until what's left is your mortgage
- Increase your superannuation contributions (preferrably through salary sacrifice)
- Get into the habit of saving (automate it!)
- Sort out your Estate Plan (Will, Enduring Power of Attorney, etc.).
More detail in the episode to help you with the how.
