3 things you can’t sacrifice in order to build your emergency fund

We all know it’s important to have an emergency fund, so if yours isn’t currently in good shape, do your best to build up savings for at least a few months expenses as soon as you can. Your food and entertainment budgets are probably a couple of places you can cut back in order to accomplish this feat. But what areas should you AVOID cutting back? Here are a few parts of your budget that you probably don’t want to even consider sacrificing…

Debt payments: If you’re battling credit card debt, you should probably make it a point to pay as much as you possibly can each month. Debt is hard to battle when you’re making minimum payments, so you definitely don’t want to sacrifice that extra cash.

Your 401k: You’ve got that 401k set up to automatically build itself up every month, so that’s probably not something you’d want to mess with. As important as your emergency fund is to protecting your possible future, your 401k is there to protect your definite future, so don’t forget that.

Insurance: Don’t gamble with your health or your money. Dropping insurance is a gamble that has a huge downside. You may need an important surgery and you don’t want to find yourself uninsured with enormous hospital bills.