First Dollar Decision
One question. One answer. One place to start.
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Answer four short questions below. You will get one clear recommendation: exactly where your next available dollar should go right now. No lists. No plans. One step.
1Are you currently behind on any bills?
2Do you have any high-interest debt, such as a credit card or payday loan?
3Do you have at least one month of expenses saved for emergencies?
4Do you have any savings or investments currently?
+Optional: How much extra money do you have available this month?
$
Leave blank if you are not sure yet. This only adds a note to your result.
Please answer all four questions before continuing.
Step 1
Your first dollar goes to:
Cover Your Basics First
Making sure the essentials are paid is your foundation.
Your Amount: What It Can Do
Know · Do · Review
Know
Money decisions get simpler when you use a priority order. Taking care of the basics before building wealth is not falling behind. It is the correct sequence.
Do
Take your next available dollar and direct it toward the step recommended above. That single action is the right move right now.
Review
Come back to this tool once your current step is complete. Your answers will change, and so will your recommendation. Every step forward counts.
Glossary of Terms
High-Interest Debt
Money you owe where the interest rate is high enough to cost more than your savings could earn. Credit cards and payday loans are the most common examples. This type of debt grows quickly if left unmanaged.
Emergency Fund
Money set aside in a safe, accessible account to cover unexpected expenses or a loss of income. A starter emergency fund covers at least one month of your essential expenses. A full emergency fund typically covers three to six months.
Priority Ladder
A simple decision framework that tells you which financial action to take first. Some actions protect you, some stabilize you, and some grow your wealth. The ladder puts them in the right order so nothing important gets skipped.
TFSA (Tax-Free Savings Account)
A Canadian registered account where your money grows without being taxed on the gains. Withdrawals are also tax-free. A flexible, all-purpose savings tool available to Canadians 18 and older.
RRSP (Registered Retirement Savings Plan)
A Canadian registered account designed for retirement savings. Contributions reduce your taxable income today, and your money grows tax-deferred until withdrawal. Best used when your retirement income will be lower than your income today.
Ready to build real money habits?
Plan To Live is your real-world financial educator and coach. We turn hopes into habits with a simple, proven framework.
Plan To Live is your real-world financial educator and coach. We turn hopes into habits with a simple, proven framework.