20% For Savings/Retirement/Debt Payment

Once you have your needs and fun money balanced, you have 20% of your income to pay off your credit card debt and save for your retirement. Experts disagree about which comes first. Some say money not saved today is money lost tomorrow. Other say the interest you would be paying unnecessarily on credit card debt while investing in your retirement defeats the purpose of investing. Whatever you decide to pay first, use the 20% of your income exclusively for paying off debt and saving for your retirement. More about retirement to come soon.