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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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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Hello and welcome to the 316th Carnival of Personal Finance- Family Edition. Big Cajun Man from THE Canadian Personal Finance Site asks What is Your Financial Plan B? Jacob @ My Personal Finance Journey discusses Online Shopping – The Risks, Benefits, and How to Stay Safe. What do you think?

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Cool Things I Read This Week

Prairie Eco-Thrifter

RT @ wisebread Houses You Can Build Yourself | Wise Bread [link] Going to consider this if we decide to change residence. #. Reader Asks About Selling Home to Pay Off Debt – [link] I agree. Prairie Eco-Thrifter has Been Featured in the Carnival of Personal Finance # 297 [link] #. 0 saves Save.

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Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

We spent the next couple of years building our savings back up, but I am now thinking that it needs to be increased. Three to six months living expenses used to be what the personal finance experts recommended, but in today's environment, maybe six months to a year is more prudent. How Much Do You Need in an Emergency Fund?

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Create your debt freedom plan

Family Balance Sheet

Our personal finances are so interwoven with our small business finances that we view them as one. The point of the starter emergency fund is to get you through until you pay off your non-mortgage debts, at which point, you build a more extensive fund. Pay off all Non-Mortgage Debt.

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Find out how Richard paid off $40,000 of debt

Family Balance Sheet

Many personal finance bloggers talk about having a “no spend week” – well basically I had a “no spend” five years! In general though, the process of paying off debt has taught me a lot of things, and its a lifestyle I continue to this day. For example I got up at 3.45 Yes, but not yet!

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Over 40 and Worried about Money? Start here!

Family Balance Sheet

We charted out our course of action to pay off debts and start saving for retirement. A few of my favorite personal finance books: The Total Money Makeover: A Proven Plan for Financial Fitness , by Dave Ramsey. Read: How to Build your Emergency Fund and 25 Ways to Find Money for your Emergency Fund.