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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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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? Was there a particular event? In January 2013 there was a blog post on Keeper of the Home that first awakened me to the concept of living debt free.

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