If you are worried about job security and do not have an adequate emergency fund (ideally eight months' worth of living expenses stashed away in a federally insured bank or credit union), you need to focus more on saving money than paying down the balance on your credit cards.

Summary

This quote emphasizes the importance of prioritizing financial stability over paying off credit card debt. It suggests that if one is concerned about the security of their job and does not have sufficient savings, it is wiser to concentrate on saving money rather than aggressively tackling credit card balances. By building an emergency fund equivalent to eight months' worth of living expenses in a secured financial institution, individuals can safeguard themselves against potential income instability and focus on long-term financial security.

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