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

Family Balance Sheet

We sold the majority of our possessions and now our family of 5 lives in a two bedroom apartment in the city as opposed to our much, much larger home in the suburbs. What inspired you to get debt free? Was there a particular event? It wasn’t really a particular event, but more of a particular feeling.

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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 inspired you to get debt free? Was there a particular event? There is hope!

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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? Was there a particular event? In January 2013 there was a blog post on Keeper of the Home that first awakened me to the concept of living debt free. Thankfully, there weren’t any arguments.

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

Family Balance Sheet

We swore we would never finance a car again. After we purchased our house, we decided that it would be our last debt – so we worked hard and paid the entire thing off in less than 8 years. What inspired you to get debt free? Was there a particular event? It’s fun being debt-free.

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