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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. From a personal point of view, I much prefer living debt free.

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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 began to realize that each item we own costs us something, either our time to maintain it or our money. What are your top 3 – 5 tips for saving money/pinching pennies to put towards paying off your debt. We live beneath our means. Not to say that we are unwise with our money.

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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? . If married, who initiated the debt free goal? Tell us about you and your family.

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P.E.P. for the Week of February 14-18/11-Planning Edition

Prairie Eco-Thrifter

Managing Money. We get a visual picture every month of where are finances are and what we have spent our money on. We have been saving for our vacation to Asia since last year and we have been successful at this. Personal Finance by the Book tells us how negotiating can put us on top. Watson Inc. How about you?

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Meet Stacy. She and her husband paid off $20,000 in 8 Months.

Family Balance Sheet

The only debt we had was a mortgage – however when we first got married we were stupid and bought a Mercedes. We ended up using my remaining collage savings to pay that off. We swore we would never finance a car again. What inspired you to get debt free? And it saves on gas too. Become a hermit.

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