The one question that should guide every financial decision in your life

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Financial decisions play an important role in our lives, whether they're about home ownership, retirement planning, or debt management. And just like everything else — your food preferences, taste in music and movies, and idea of what makes for a great Saturday night — those financial decisions will change quite a bit as you age.

But one question drives the evolution of those decisions: Who is at the center of your financial life?

Here's a look at the important financial priorities, questions, and actions to take during each stage of your life — from your 20s through your retirement years. 

Find out how to make the most responsible decisions for the ones you love.

This post is sponsored by Lincoln Financial Group. 

Millennials

Age range: 18-34

Who matters now: Just you... for the most part. While some millennials have kids, the bulk of early adulthood is focused on setting yourself up for financial success. But though you might still be getting some sort of financial support from your parents, it's not too early to start asking about their financial future — because you'll eventually be a big part of it.

Important questions to ask yourself:

- What is your plan for paying off credit card or student loan debt?

- How much and how often will you start investing for retirement?

- How will you adjust your budget to include kids if you have them?

Plan for the future:

- Focus your resources on paying down the biggest debt first — but keep up with minimum payments on all other accounts, too.

- You really can start contributing to your retirement now, even if it's as little as $25 a month. It's a habit that will literally pay off in the end. 

- Before having kids, price out everything from diapers to daycare, and don't forget to include any loss of income if you or your partner might take significant time off or work fewer hours. Start working toward living on the new budget in advance.