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The Age Old Question: Should You Pay Off Debt or Save?

Penny Pinchin' Mom

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. You are one emergency short of losing track of your finances.

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

Family Balance Sheet

Today’s Debt Free Story is from Anna. She is on a mission to help others become debt free. She writes at her personal finance website, And Then We Saved. What do you and your spouse do for a living? . What inspired you to get debt free? What are your financial goals now?

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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

We are living in an apartment that we can pay for out of one paycheck with money left over. The money that we used to spend on debt now goes into savings. In order to maintain our debt free lifestyle, we pay cash for everything. We rarely use a credit card and if we do, we pay it off right away.

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