The ideal situation is to strike a balance and pay off your significant debts while putting money aside for emergencies.
To help you out, you can apply debt management strategies like the [Snowball Strategy](https://www.moneygeek.com/debt/advice/debt-snowball-method/) or [Avalanche Method](https://www.moneygeek.com/debt/advice/debt-avalanche-method/). The more debts you pay off, the more flexibility you have to start putting more towards your savings.