Setting financial priorities
- Best thing to do with excess cash: the rule about repaying debt versus investing
- Applying this to: credit card and other high-interest debt, mortgages, student loans
- Top priority for all: repay credit card debt
- Next priorities:
- If you don’t own a home
- If you have a home with a mortgage
- If you have a mortgage-free home
No paywalls or ads — just generous people like you. All Kiwis deserve accurate, unbiased financial guidance. So let’s keep it free. Can you help? Every bit makes a difference.
Mary Holm is a freelance journalist, a director of Financial Services Complaints Ltd (FSCL), a seminar presenter and a bestselling author on personal finance. From 2011 to 2019 she was a founding director of the Financial Markets Authority. Her opinions are personal, and do not reflect the position of any organisation in which she holds office. Mary’s advice is of a general nature, and she is not responsible for any loss that any reader may suffer from following it.