Here are the choices:

• Paying my mortgage or rent
• Lack of stable income
• Paying for education
• Not being able to retire
• Not having enough money to fund an emergency
• Wanting a nicer lifestyle
• Paying off my debt

Envelope please…

Answer: Paying off Debt!

From GoBankingRates.com (click on this link to find details about your state):

Want to teach your students to use debt responsibly? Please check out the NGPF Unit on Types of Credit!

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.