So Money with Farnoosh Torabi · Friday, September 18, 2026
Farnoosh Torabi outlines a three-step approach for prioritizing finances: 1. Establish a starter emergency fund for immediate needs and security. 2. Capture any employer retirement match to avoid leaving compensation on the table. 3. Aggressively pay down high-interest debt, defined as anything over 7-10% APR.
“Step one: Get some cash between you and disaster. What's a disaster? Losing your job, having a health emergency that keeps you from working and making money.”
“Step two: If you have access to an employer retirement match, capture it. If your employer is matching your 401k contribution dollar for dollar up to a certain percentage of your salary, then you may be giving up part of your compensation.”
“Step three: Pay down debt aggressively. High interest debt. So, credit cards, personal loans. If you have multiple, create a plan. The snowball method, or the avalanche method. If you're serious about tackling your debt, you want to throw as much money as you can at it.”