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Why an Emergency Fund is More Important than Paying Off Debt

Why an Emergency Fund is More Important than Paying Off Debt

You might not know this, but building an emergency fund vs.paying off debt is a touchy subject for many finance bloggers when it comes to which is more important. Some believe that freeing yourself from debt is a critical first step to financial stability. They support their priority by arguing that by focusing on debt first, you save money in interest and get access to more money each month by paying debt off fastest. There are plenty of people who sit in the middle of the debate, but I’m neither a proponent of this priority nor a fence sitter. I strongly believe that an emergency fund should be the first priority for anyone beginning the journey of financial responsibility. Continue Reading