Penny Pinchin' Mom

DECEMBER 17, 2023

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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Pay Off Debt Debt Emergency Fund Financial Goals 52

Motherhood Moments

JANUARY 18, 2023

Prepare ahead of time and create a bare bones budget that includes only your essentials — think food, shelter, clothes, transportation and insurance — so you have a plan in the event that you experience a loss of income or need to cut expenses suddenly. Prepare by paying off debt. Prepare for the unexpected.

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Recession Finance Emergency Fund Debt 100

Family Balance Sheet

NOVEMBER 5, 2014

We paid off just over $23,000 in one year and four months. The debt consisted of my student loans and a car loan. What inspired you to get debt free? Was there a particular event? When my wife and I got married, we both made the decision that our first financial priority would be becoming debt free. It’s worth it!

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Debt Free Debt Emergency Fund Finance 241

Savings Corner

DECEMBER 24, 2023

Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms. Common reasons include paying off debt, financing a large purchase such as a vehicle or a boat, or covering the cost of a major expense like a wedding or a home renovation.

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Debt Credit Cards Credit College Tuition 52

Family Balance Sheet

SEPTEMBER 9, 2014

About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) But it wasn’t a decade of nothing but paying off debt. When we first started we couldn’t have even conceived of becoming completely debt free. What inspired you to get debt free?

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Debt Debt Free Pay Off Debt Financial Goals 236

Family Balance Sheet

NOVEMBER 19, 2014

The debt included about $30,000 in student loans, some medical debt, IRS debt, and a small amount on a credit card. What inspired you to get debt free? Was there a particular event? Family and friends may think you are crazy for paying off your debt. Paying off debt can be done!

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Debt Debt Free Finance Friends And Family Sale 245

Family Balance Sheet

JULY 2, 2015

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. We felt like we couldn’t do a lot of the things in life we wanted to do because there was always the debt and the loan payments. If we want to buy a car, we save and pay cash.

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