article thumbnail

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.

article thumbnail

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.

Student 100
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Find out how Anna paid off $23,605 in college, personal loans, and credit cards.

Family Balance Sheet

It was a mix of college loans, a personal loan from my parents (for college), an overdraft account, and credit card debt. What inspired you to get debt free? Was there a particular event? I had tried a lot of different things to get out of debt but nothing worked. There is hope!

article thumbnail

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.

Debt Free 100
article thumbnail

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

Family Balance Sheet

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? I was raised debt-free and Barry was introduced to a debt-free lifestyle from his grandmother and aunt.

Debt Free 100