Emergency funds or loan repayment which comes first

In the context of managing your finances and deciding between building an emergency fund or repaying loans, it's generally advisable to prioritize building an emergency fund first. Here's a simple guideline:

Emergency Fund: Start by setting aside some money as an emergency fund. This fund should ideally cover three to six months' worth of living expenses. Having this safety net in place can help you handle unexpected expenses or financial emergencies without resorting to more debt.

Loan Repayment: Once you have established your emergency fund, focus on repaying high-interest loans, such as credit card debt or high-interest personal loans. Reducing high-interest debt should be a priority because it can save you money in the long run.

Low-Interest Loans: After addressing high-interest loans, consider the interest rates on your remaining debts. If you have low-interest loans, like a mortgage or student loans, you might continue making regular payments while also building your savings.

Remember that this is a general guideline, and your specific financial situation may vary. It's essential to assess your unique circumstances, including your income, expenses, and interest rates on your loans, to make the best decision for your financial well-being. Consulting a financial advisor can also be beneficial in creating a tailored financial plan.