Jeremy has been out of school for two years, has a good job, and recently got a raise. He is excited about investing and always puts part of his check into savings. Although he has $6,500 in debt left to pay, he is making more than the minimum payments and should be debt-free in 15 months. Based on the steps in financial planning, which of the following actions should Jeremy prioritize?
- Baby Step 1: Get $1,000 into the bank as an emergency fund.
- Baby Step 2: Work the debt snowball by focusing on paying off debt.
- Baby Step 3: Finish building the emergency fund.
- Baby Step 4: Start investing while still having debt.