Terry Savage, Tribune Content Agency

Setting priorities is a luxury, whether you’re talking about time or money. It means you have choices about what to do or what to buy or what bill to pay first. Your choices might involve personal preferences.

Making responsible decisions involves tradeoffs, assuming you’re not in a position to have everything and do everything all at the same time.

But what happens when you can’t possibly do both important things? When you can’t be in two places at once? Or, even worse, when you can’t stretch your money to pay all your bills, much less set some aside for savings?

Millions of Americans are in that position these days. They’ve charged up their credit card balances and they can barely afford the minimum monthly payments. They are caught up in the “buy

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