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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? Should you pay off debt or save?

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Money Matters: How to Prepare Your Finances for a Recession

Motherhood Moments

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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Meet Doug & Laura. They Paid off $23,000 in 16 Months. | Debt Free Stories

Family Balance Sheet

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.

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Find out how Charissa and Her Husband Paid Off $7665 of Debt and Cash Flowed College

Family Balance Sheet

We paid off $7,665 worth of credit cards, school loans and a car loan. We started paying it off when we got married and became debt free just shy of our second anniversary. What inspired you to become debt free? Was there a particular event? They didn’t like debt, and as I grew up, neither did I.

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

Family Balance Sheet

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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Find Out How Olivia & Her Husband Paid off Their Mortgage in 33 Months

Family Balance Sheet

We made sure we could afford the monthly payments on a 15 year mortgage, with the mindset that we would pay more each month. What inspired you to get debt free? Was there a particular event? There were two things that inspired us to pay off debt. We are currently saving for a new car for me.

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Meet Amanda & Daniel. They Paid Off $68,000 in Debt in 8 Months.

Family Balance Sheet

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? The software generated a monthly revenue, but we were able to sell them to pay off the rest of our debt immediately.

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