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.

Pay Off Debt 52

Pay Off Debt Debt Emergency Fund Financial Goals 52

Family Balance Sheet

JULY 2, 2015

How much debt did you pay off? What kind of debt was it? All of our debt was $97,000 in student loan debt. We had been paying on it our entire marriage, but could not afford to pay too much above the minimum payment requirement. If we want to buy a car, we save and pay cash.

Student 100

Student Debt Debt Free Finds 100

Family Balance Sheet

SEPTEMBER 9, 2014

We paid off over $147,000 in debt (actually way over that amount, if you want to count a $210,000 rental property that I sold at a slight loss.) About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) Then my husband decided to pay off his car.

Debt 236

Debt Debt Free Pay Off Debt Financial Goals 236

Family Balance Sheet

JUNE 2, 2016

Of course, the British climate isn’t always kind, but I’m pleased to say the weather recently has been glorious and I’ve been making full use of it! In total I estimate I paid off round $40,000 worth of debt, though depressingly a fair chunk of that was just interest. For example I got up at 3.45

Debt 100

Debt Finds Debt Free Pay Off Debt 100

Family Balance Sheet

JUNE 8, 2018

I came up with strategies to help us pay for yearly bills, large expenses, and we were able to pay off debts. We have been using this system ever since. For example, if your paychecks net to $3000 a month, then you plan the spending for $3000, and not a single dollar over or under. lined paper.

Budgeting 133

Budgeting Budget Financial Goals Goals 133

Savings Corner

APRIL 4, 2024

Home equity loans are best used for five-figure renovation or repair projects — which can garner you a tax deduction on their interest — or to consolidate other debts. You can use the funds from a home equity loan for any purpose, but there’s a possible tax benefit if you use the money to improve your home.

Home 52

Home Debt Credit Cards Credit 52