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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? However, if you pay off these debts, there will be nothing left for investments in these tough financial times.

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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? I had tried a lot of different things to get out of debt but nothing worked. What are the top 3 – 5 ways you found money to put towards debt.

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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? In January 2013 there was a blog post on Keeper of the Home that first awakened me to the concept of living debt free. We were living on one income that placed us just at the top of lower class income level.

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Find out How Acadia & Her Husband Paid off $97,000 in Student Loans

Family Balance Sheet

However, with my husband being an architect and an overall really handy guy, we decided that fixing up the house and selling it could give us enough profit to at least pay off a big chunk of our debt. It took us two years of my husband working full-time at his job and then using every other second to work on the house.

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