What should get priority, building an emergency fund or paying down debt?
Probably both. From a sheer numbers perspective, paying down debt may seem wiser. In all likelihood, the interest rate you’re charged on debt will be much higher than the interest you make on your emergency fund. On the other hand, if an expensive emergency comes up and you don’t have an emergency fund, you could build up a lot more debt. You may want to consider dividing your savings between these two goals, at least until your emergency fund can cover three to six months of your expenses.
