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

Penny Pinchin' Mom

Advantages of Paying Off Debt From a purely financial point of view, it makes more sense to focus on debt payoff rather than directing available cash to a savings account. From a personal point of view, I much prefer living debt free. And there are tons of other benefits as well.

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

Prairie Eco-Thrifter

We will be away at the time the risk is the highest so we are working on getting our furniture in our basement propped up on blocks as well as running dehumidifiers. A few years ago my credit took a bit of a hit. I wasn’t managing my money very well. We have an indoor compost bin as well as three outdoor bins.

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

Family Balance Sheet

We are living in an apartment that we can pay for out of one paycheck with money left over. The money that we used to spend on debt now goes into savings. In order to maintain our debt free lifestyle, we pay cash for everything. We rarely use a credit card and if we do, we pay it off right away.

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