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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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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

Welcome to Debt Free Stories. She and her husband paid off $147,000 in debt–including their home. After paying off the debt, she was able to quit her job to pursue her passion. She blogs at The Debt Myth. Quitting my job is one of the things being debt free has enabled us to do.

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Find out how Jessica paid off $56,000 of student loans, credit cards, and a car loan.

Family Balance Sheet

Today’s Debt Free Story is from Jessica. How much debt did you pay off? What kind of debt was it? I had $56,000 of debt when I decided to become debt free. What inspired you to get debt free? The inspiration to pay off my debt was watching my grandmother balance her checkbook.

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Why You Should Be Skeptical of Financial “Rules of Thumb”

Prairie Eco-Thrifter

The rule of thumb that states that it makes sense to spend 30% of your income each month on a housing payment doesn’t take into account the fact that you might have other debts, and that taking on more might over-leverage you. Markets and economic conditions change as well. The market might not return what you expect each year.

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10 Things To Do When You Lose Your Job

Prairie Eco-Thrifter

She blogs about ways to make and save money as well as what she is up to at her blog www.kylieofiu.com. 7.) Pay only the minimum on debts. Until you have a job again, focus on keeping your financial reserves, as you may end up regretting paying that extra $20 a week off your debt. So, have you ever lost your job?

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Eight Things I Learned After Becoming a Millionaire

Prairie Eco-Thrifter

Well, we made it and here are some of the surprising things I found out about having a few millions. You don’t have to contend with deciding which bill to pay or how to avoid a debt collector’s call or trying to keep the landlord off your back. You still want to do your best at work. My lifestyle didn’t change.

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Top Tips for Strengthening Your Money Mojo

Prairie Eco-Thrifter

You want to be able to contribute to investment accounts and build up a solid savings to get you through an emergency or unexpected job loss. Do you want to pay off a particular debt in a certain timeframe? If you adhere to these three tips, you are well on your way to enhancing your money mojo.

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