Though annoying to have an overhang, don’t rush to pay off your student loans since your interest rates on these loans likely ranges from 4 to 7%. This rate is well below returns you can expect by fully funding your 401(k) to get an employer match and long-term equity return averages of about 10%.

Cars are a rapidly depreciating asset, meaning they quickly decline in price soon after you buy them and steadily decline in value over time. Thus they (like other items in their same category including clothes, furniture, jewelry and electronics) should go through extra scrutiny to determine if you really want and/or need them!