Help with priorities
Is is better to put more money into a retirement account or put it into an account to be used for emergencies? Also, should I be focusing on paying off my student loans or my credit cards?
I'm 21, have $32,000 in student loans, $2,000 in CC, no savings and am trying to come up with the best division of my (very) limited income. Right now I'm paying 200/mo to loans, 150/mo to CC, 100/mo towards retirement accounts, 100/mo towards a savings account that I can't readily access (for big purchases later on/lose my job emergencies) and 150/mo for my emergency/"oh crap, the car needs new tires" savings. That 700/mo is just about the most I can afford to sock away and still pay rent, food, transportation, etc. So, my question is, should I be dividing that $700 differently? Or am I on the right track? As my income goes up, I'm going to increase each of the amounts, and any one-time bonuses go into my can't touch savings.
In addition, if my income goes down/rent or other bills go up, and I can't afford $700/mo anymore, what areas can I cut back on and still be safe? I'm just a little overwhelmed by how much debt I've got and how much I have to plan for. I don't want to focus so much on the future that I can't enjoy being 21, but I certainly don't want to borrow against it either. Any advice would be greatly appreciated!