How to Set Financial Priorities

Should you invest or pay down debt? Should you help your siblings plan for their retirement? Should you pre-pay your mortgage? Trent Hamm answers these and related questions.

You need to figure out why you’re saving. What are you saving for? If you can’t think of a specific reason that you’re saving, I would focus on eliminating all of your debts, starting with the higher interest ones. I know that they’re relatively low interest, but doing it anyway has two benefits. First, a debt prepayment is basically a guaranteed investment that returns the interest rate of the debt. So, if you’re prepaying a 5% loan, that’s basically a 5% return that you don’t have to pay taxes on, which is pretty good. Second, eliminating debts early gives you personal and career flexibility that you’ll never have with a debt hanging around your neck requiring you to make a payment each month.

Orangutans exhibit awareness of the past

Orangutans join humans and bees in a very exclusive club

(Eugene Sim/Shutterstock)
Surprising Science
  • Orangutan mothers wait to sound a danger alarm to avoid tipping off predators to their location
  • It took a couple of researchers crawling around the Sumatran jungle to discover the phenomenon
  • This ability may come from a common ancestor
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China’s artificial sun reaches fusion temperature: 100 million degrees

In a breakthrough for nuclear fusion research, scientists at China's Experimental Advanced Superconducting Tokamak (EAST) reactor have produced temperatures necessary for nuclear fusion on Earth.

Credit: EAST Team
Surprising Science
  • The EAST reactor was able to heat hydrogen to temperatures exceeding 100 million degrees Celsius.
  • Nuclear fusion could someday provide the planet with a virtually limitless supply of clean energy.
  • Still, scientists have many other obstacles to pass before fusion technology becomes a viable energy source.
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Understand your own mind and goals via bullet journaling

Journaling can help you materialize your ambitions.

Videos
  • Organizing your thoughts can help you plan and achieve goals that might otherwise seen unobtainable.
  • The Bullet Journal method, in particular, can reduce clutter in your life by helping you visualize your future.
  • One way to view your journal might be less of a narrative and more of a timeline of decisions.
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