**A great “order of precedence” guide from Reddit.** In non-flowchart form: (see [full source](https://www.reddit.com/r/personalfinance/wiki/commontopics/#wiki_the_flowchart)) # Budget & Reduce Expenses 1. create a [[Budget]] 2. Pay housing 3. Buy food 4. Pay essential bills 5. Pay income earning expenses 6. Pay healthcare 7. Make minimum payments on all debts # Build Emergency Fund 1. Build small [[Emergency Fund]] 2. Pay non-essential bills # Employer-Sponsored Matching Funds 1. Contribute to get employer match # Pay High Interest Debts 1. Pay high interest (>10%) debts 2. Increase emergency fund # Save for Retirement/School 1. Pay medium interest debts 2. Fund at least 15% to [[Employer-Sponsored Savings Accounts]] # Max Saving Mode 1. Max [[HSA]] 2. Contribute to [[529 Accounts]] 3. Max Employer Sponsored accounts 1. Or: put aside savings/stocks/bonds for anticipated big purchases  **** # More ## Source [How to prioritize spending your money - a flowchart (redesigned)](https://www.reddit.com/r/personalfinance/comments/4gdlu9/how_to_prioritize_spending_your_money_a_flowchart/) ## Related - [[Retirement Index]] - [[HSA]] - [[Employer-Sponsored Savings Accounts]] - [[Budget]] - [[Emergency Fund]]