An emergency fund is essential to make sure you don’t get into debt when life happens (which it always does). It’s not surprising to hear that most people who struggle with debt, don’t have an emergency fund. Often, the difference between getting into further debt or taking an emergency in your stride is having money in the bank.
So how do you build an emergency fund when you’re in debt? And should you even bother? Should debt payoff be your primary goal?
The short answer is yes and yes! Yes, you should bother saving money for an emergency and yes, debt payoff should be your priority.