Building a savings cushion and paying down debt are two of the most common personal finance goals. But that doesn’t mean either one is always easy. Thomas Walsh, CFP®, returns to the podcast to talk about the balancing act many people have to master in order to save for big goals like retirement or education while also staying on top of their debts. In a wide-ranging conversation with host Amy Laburda, Thomas breaks down why an emergency fund is essential for everyone; why it’s crucial to stay flexible in your savings approach; the importance of making a debt repayment plan that works with your temperament; and much more. Thomas also talks about the importance of forgiving yourself for financial mistakes and moving forward one manageable step at a time.

Links: “What Is Wealth?” (S2E1, with Larry Elkin)

“Investing Fundamentals” (S1E9, with Palisades Hudson CIO Benjamin C. Sullivan)