So you need an emergency fund? You need to pay off your student loans? You need to save for retirement? Everybody needs to do these things, but in what order...
Undoubtedly the first thing you need is an emergency fund (6 months of expenses), assuming you don't need life insurance.
The max tax deduction you can get from student loan interest is $2,500 and this gets phased out from $65k-$75k so there is no benefit if you make over $75k MAGI. So if you get no benefit then this needs to be paid off ASAP.
If you work for an employer who matches your contribution to a retirement plan. Then this needs to be funded up to the match. This gives you an automatic 100% return and saves you some tax dollars. Double whammy!
1. Get an emergency fund established.
2. Contribute to retirement plan at least up to the contribution limit set by your employer.
3. Pay off your student loans as fast as possible even if you get a tax benefit from it.
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