Part 1 of 2 asks four questions BEFORE you answer the question of Where Should My Next Dollar Go? You have to consider if you’re financially secure. Then you should ask yourself about 1) Emergency Fund 2) High Interest Debt 3) Insurance 4) Financially solvent.

TRANSCRIPT:

Hello. Where should your next dollar go? Well, I'm not going to answer that. I'll actually answer that in another video because today's video is Four Things To Consider before answering that question “where should my next dollar go?” And it all revolves around one other question, which is “Are you financially secure?” What does that mean? Well here are the four things to consider.

One: Do you have an adequate emergency fund? If you're a screenwriter or director I recommend nine to 18 months of necessary living expenses in your emergency fund. If you have more steady income, generally three to six months will suffice.

Number two: Do you have any high interest debt, specifically credit cards?

Number three: Do you have adequate insurance? Insurance could mean homeowners insurance, renter’s, auto, disability, maybe life insurance or long-term care insurance.

Number four: Are you financially solvent and able to pay all your debts?

So those are some things to consider. It certainly isn't everything to consider. But I do hope you found this one helpful. As always, everyone is different, so do what is right for you. Thanks.