When managing one’s personal finances, which do you think is the better practice: saving or paying down debts first? Having savings ensures that there is something we can count on during the rainy days or emergencies. While paying debts down ensures that we don’t lose sleep over debt and/or we can maintain good or reshape our debt ratios and credit scores. It also makes sense to pay down debt if we need a better cash flow in the future than at present.
http://www.dailyfinance.com/2011/09/03/whats-more-important-saving-or-paying-down-debts/?ref=mostpopular
