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

Penny Pinchin' Mom

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. What gives?

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

Family Balance Sheet

Luckily, even without misguided financial beliefs, we did pay off a significant portion of our debt before having kids. After we had kids, though, I stayed home, so we continued making the minimum payment for years. At the point when we finally got serious about paying off our debt we had $22,047 left.

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