PHILADELPHIA (CBS) - The economy is tight right now, but a new poll shows given a choice, Americans would rather pay down their debt than contribute to savings.

The poll was conducted by the National Foundation for Credit Counseling. Vice President Gail Cunningham says about 3,000 people were surveyed about which was more important.

“If I come into a windfall, or manage to find some extra money, should I pay down debt, or should I beef up my savings? And the answer is you should do both.”

She says split the money between paying down the credit cards and a rainy day fund, which can be used in case of an emergency.

“It’s not a matter of “if” that emergency is going to rear it’s ugly head, it’s “when”. And when seems to be always at the most inconvenient time.”

Cunningham adds that Americans save more in a bad economy than they do in a good one.

Reported by Kim Glovas, KYW Newsradio