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

Penny Pinchin' Mom

Saving Through Paying Off Debt Once you pay off the debt , you can begin to earn interest income on the money you would have spent each month on debt payments. This makes it easier to save money, invest for a more long-term financial goal, and even add to your retirement savings.

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

Family Balance Sheet

It took me five years to pay off my debt but two of those years I had a job loss, I was taking care of my grandparents and I had lost my motivation and drive to pay off the debt. Was there a particular event? She was so meticulous with her money. I had planned to pay it all off in 2.5 What inspired you to get debt free?