5. I have an extra $1,000 and no debt. What should I do with it?
Orman: Anything can happen at any time. The best thing you can do for yourself is to have an eight-month emergency fund. Assuming you have all your bases covered, you should look at opening a retirement fund. Your number one priority in your life is going to be to be able to pay your bills later on in life when you no longer have a paycheck coming in.