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Sunday, December 22, 2013

Which of your bills do you pay first?


Does your car loan bill go to the top of the stack? 

It does for most Americans. According to a study by TransUnion, car loans, overall, have the fewest delinquency rates. So which bill ends up on the bottom? The mortgage payment. The credit card bill is most often on top of that one. 

According to Ted Jenkin, a certified financial planner, most of us have our bill-paying priorities all wrong. He says, after food and medical care, we should be paying in this order: Housing, utilities and then transportation. And while you could lose your wheels if you don’t pay for them, you could go to jail for not paying priorities like alimony, child support and taxes. 

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