Where will my next dollar go?

Sometimes managing your family financially can feel like a magical task. Managing n, saving for the future and keeping an eye on what’s coming and going for regular bills, it can be difficult to prioritize which line items should come first in your budget. This short video can help you rely on the most important things in terms of important savings and management. If you are looking for more ways to create financial wellness, we are always here to help.


Sometimes life can seem like a list of competitive financial priorities. Savings for retirement. O. House. College. That other debt. When you’re doing a lot of things, it can be hard to decide where to put your next dollar. We’ve got 4 tips that can help you balance debt management with savings for the future.

First, focus on dismissing the ones that carry the highest interest rates – even if you have other, smaller ts that seem to be easier to pay off and will do. As long as you hold high interest debt, it will become more expensive. Whenever possible, try to pay more than the minimum amount on your debt each month. Removing it sooner than this will reduce the amount you owe over time and empty more of your money for more fun things – like a coconut drink.

Second, take full advantage of potential high-return opportunities, such as your employer’s 401 (k) match. This means making sure you are contributing enough to your retirement plan to get the full match. Studies have shown that 1 in 4 people do not match their full employer, and this adds up to 24 24 billion a year that goes unnoticed. * That’s a lot of coconut.

Third, check for emergency savings from your list. It is always a good idea to plan the cost of living for at least three months, including rent or mortgage, other bills and food. Trying to pay for an emergency can be hard to think about – but you can even protect yourself from taking it. More unexpected If something unexpected happens. Think of it as an investment in confidence and peace of mind.

Fourth, remember that tax-exempt accounts are your friend. These are great places to transfer cash when you are saving for a specific goal. There may not be much flexibility in how you spend money on these accounts, but what you can earn on a post-tax return can make them more valuable. HSA provides tax-exempt healthcare savings. IRAs do the same for leisure savings, and 529s for education. To get the most out of these tax benefits, choose your account types based on how quickly you will need their money. If you are saving for a short-term goal, it is worthwhile to fund taxable accounts so you will not fall into limitations or penalties when you make withdrawals.

If you are looking for more strategies to deal with debt and maximize your savings over time, financial advice can help. When you’re ready to take the next step, we’ll be here. So will the coconut.

* Financial Engine Research, May 2015. Missing: How many employers 401 (k) are meeting the employees left on the table? Available at

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