Yes, both are critical priorities. Two important pieces of information are missing - (1) do you have any emergency fund savings currently; and (2) how much is your debt and what is the interest rate on the debt. Your answers to these questions and other factors will impact your actual plan, but in general: First, determine how much income you have after paying required living expenses - rent, food, transportation, health insurance. Then, assuming you have no emergency fund savings allocate as much as possible while paying more than the minimum monthly payment on your debt. This will enable you to start paying down the balance. Once you have at least 3 months of emergency savings you can start to pay down your debt more aggressively. Any bonus income or surprise gifts, income tax refunds, windfalls should be used to pay down your debt and increase your emergency fund so that you can start investing for your future. A good financial advisor will review all of your income and expense information together with your current and future needs and goals to put the best plan in place for you to achieve these goals as effectively as possible.