Where should my money go first?
Eight savings fundamentals to get you started
Test your savings IQ.
Take quizStart with the basics.
With so many competing priorities, it’s hard to know the best way to save money. Schwab recommends eight savings fundamentals to help you prioritize.
Do the first four fundamentals in order and then complete the rest according to your personal priorities.
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#1
Don’t leave money on the table.
Read why your company’s 401(k) match is your first priority.
See fundamental #1
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#2
Stop giving so much to credit card companies.
See how much you can save by accelerating payments.
See fundamental #2
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#3
Save for emergencies.
Learn about the importance of a rainy day fund.
See fundamental #3
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#4
Maximize savings to tax-advantaged retirement and other accounts.
Discover which IRA may be right for you.
See fundamental #4
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#5
Save for a child’s education.
See why it’s best to start as soon as you can.
See fundamental #5
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#6
Save for the down payment on a home.
Find the right account to build your savings.
See fundamental #6
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#7
Pay down other debt.
See the difference lower interest payments can make.
See fundamental #7
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#8
Keep investing.
Learn three important steps to smart investing.
See fundamental #8