Take care of loans: The higher the rate on the loan, the faster you want to pay it off. â€œItâ€™s called debt stacking,â€ Boyd says. â€œThatâ€™s when you line up your bills by interest rate, not by balance.â€ You would make the minimum payment to all of your bills except for the one that has the highest interest rate.â€ The quicker you pay it off, the better, but donâ€™t pay it off in spite of saving, Boyd says. You want some equity because, as weâ€™ve seen in this job market, you could lose your job, Boyd adds. "What you donâ€™t want to do is have no equity or no savings, and have less debt. That doesnâ€™t help you if you lose your job. Itâ€™s a careful balance."