A friend and I were discussing New Year’s plans the other day. She is resolving to get her debt under control and start saving more for retirement and her kids’ college funds.
“I’m cutting life down to the bare bones this year,” she said. “We’re not spending on anything extra until things are under control.”
So I said, “I guess that means you won’t be taking that trip to California you planned for the spring. That’s a shame.”
“Oh, no. We’re still going on that,” she said.
“But you could put that money toward your other goals. The trip’s still far enough off you could get your money back,...