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

Penny Pinchin' Mom

Advantages of Paying Off Debt From a purely financial point of view, it makes more sense to focus on debt payoff rather than directing available cash to a savings account. From a personal point of view, I much prefer living debt free. You will need to handle them first, even if your emergency fund is nonexistent.

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My Life Plan

Family Balance Sheet

Our Financial Goals: Pay off our non-mortgage debt. Increase our emergency fund to 6 months of expenses. Contribute to our retirement funds. Pay off our mortgage debt. Celebrate debt freedom with a big family trip to Hawaii or Paris. Write a book about our debt free journey. Absolutely!

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Shannon & Her Husband Paid off $22,000 in 9 Months

Family Balance Sheet

Today’s Debt Free Story is from Shannon. What do you and your spouse do for a living? I’m Shannon Brown, and I’m a crunchy Christian mama blessed to live in beautiful North Idaho. Read more about Shannon’s debt free journey. What inspired you to get debt free?

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