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

Penny Pinchin' Mom

DECEMBER 17, 2023

Saving Through Paying Off Debt Once you pay off the debt , you can begin to earn interest income on the money you would have spent each month on debt payments. This makes it easier to save money, invest for a more long-term financial goal, and even add to your retirement savings.

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Meet Jackie. She and Her Husband Paid off $147,000 in Debt | Debt Free Stories

Family Balance Sheet

SEPTEMBER 9, 2014

We also went through multiple job losses, surgeries, huge car repairs, etc. I needed to count on myself and support my son, and that meant getting my financial life in order, starting with building an emergency fund for the first time. Building an emergency fund also helps enormously. Get creative.

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