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

Penny Pinchin' Mom

The post The Age Old Question: Should You Pay Off Debt or Save? Should you pay off debt or save? 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.

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Create your debt freedom plan

Family Balance Sheet

Prior to FPU, we thought we were doing well financially and never considered that we had too much debt. We didn’t carry over credit card balances, we paid off our car notes early, and the interest rate on the student loan was at a low 2.75%. But Dave Ramsey’s view of debt is very different. A student loan?

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How to Start a Budget (and be successful at it!)

Family Balance Sheet

During that time, I started to budget for everything. Every aspect of our lives was included in our budget. I came up with strategies to help us pay for yearly bills, large expenses, and we were able to pay off debts. Another way to think of a budget is a spending plan. Create a budget calendar.

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Meet Doug & Laura. They Paid off $23,000 in 16 Months. | Debt Free Stories

Family Balance Sheet

How much debt did you pay off? What kind of debt was it? We paid off just over $23,000 in one year and four months. The debt consisted of my student loans and a car loan. What inspired you to get debt free? What are the top 3 – 5 ways you found money to put towards debt.

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5 Steps to CRUSH Debt + FREE Debt Payoff Goal Tracker

Family Balance Sheet

Did you make a goal to pay off debt this year? For many years, we made a yearly goal to chip away at our six figures of non-mortgage debt. It took us years to pay it all off, but we achieved it in 2019. It took us six years to pay off our non-mortgage debts once it became a priority.

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Find out how Charissa and Her Husband Paid Off $7665 of Debt and Cash Flowed College

Family Balance Sheet

Today’s Debt Free Story is from Charissa. She helps readers gain control of their finances and live well on a budget at her blog Cook with a Shoe . They didn’t like debt, and as I grew up, neither did I. When my husband and I got married, we both brought debt into the marriage and I knew that I wanted to pay it off.

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How to Achieve Your Financial Goals (tips from the achievers)

Family Balance Sheet

Maureen eliminated $79,000 of credit card and student loan debt less than 3 years. Their 2017 goal is to wipe away $30,000 from their mortgage to keep them on track to pay it off in 36 months. Jessi and her husband paid off her student loans. They also made the commitment to stay away from debt for good.