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The Age Old Question: Should You Pay Off Debt or Save?

Penny Pinchin' Mom

So, you want to get started on debt repayment so you can focus on other financial goals? However, if you pay off these debts, there will be nothing left for investments in these tough financial times. You are one emergency short of losing track of your finances. From a personal point of view, I much prefer living debt free.

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Shannon & Her Husband Paid off $22,000 in 9 Months

Family Balance Sheet

Read more about Shannon’s debt free journey. What inspired you to get debt free? In January 2013 there was a blog post on Keeper of the Home that first awakened me to the concept of living debt free. We were living on one income that placed us just at the top of lower class income level.

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Meet Stacy. She and her husband paid off $20,000 in 8 Months.

Family Balance Sheet

Today’s debt free story is from Stacy. She shares delicious recipes, money saving tips and frugal living posts at her blog, Stacy Makes Cents. What do you and your spouse do for a living? The only debt we had was a mortgage – however when we first got married we were stupid and bought a Mercedes.

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Find out How Acadia & Her Husband Paid off $97,000 in Student Loans

Family Balance Sheet

I did read about the Dave Ramsey method, however, I knew that for us, it would take something more extreme than cutting expenses and putting that money towards our debt. What are the top 3 – 5 ways you found money to put towards debt. We are choosing to live below our means. We live beneath our means.

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Find out how Anna paid off $23,605 in college, personal loans, and credit cards.

Family Balance Sheet

Today’s Debt Free Story is from Anna. She is on a mission to help others become debt free. She writes at her personal finance website, And Then We Saved. What do you and your spouse do for a living? . What are the top 3 – 5 ways you found money to put towards debt. Lots of things.

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P.E.P. for the Week of February 14-18/11-Planning Edition

Prairie Eco-Thrifter

Managing Money. We get a visual picture every month of where are finances are and what we have spent our money on. Mom Vesting talks to us about bringing the subject of money up with your spouse. I wasn’t managing my money very well. Personal Finance by the Book tells us how negotiating can put us on top.

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