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

Penny Pinchin' Mom

The post The Age Old Question: Should You Pay Off Debt or Save? Should you pay off debt or save? 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.

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

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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. No, although we inadvertently used the debt snowball method without having heard of it.

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Find out how Jessica paid off $56,000 of student loans, credit cards, and a car loan.

Family Balance Sheet

Tell us about yourself. I am used to moving a lot! It took me five years to pay off my debt but two of those years I had a job loss, I was taking care of my grandparents and I had lost my motivation and drive to pay off the debt. I no longer use credit cards – only debit cards or cash. Where are you from?