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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? Should you pay off debt or save?

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2019 Debt Freedom Plan Update

Family Balance Sheet

Updates on our Debt Freedom Plan over the years: Our Original Debt Freedom Plan – written in March 2014. Our 2019 Financial Goal. After years of scrimping and saving and not spending extra money on things, we have achieved the biggest financial goal we have ever set for ourselves in our 19 years of marriage.

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

Family Balance Sheet

About $52,000 of that $147K was consumer debt (credit cards, a student loan, a car loan, a home improvement loan, etc.) But it wasn’t a decade of nothing but paying off debt. When we first started we couldn’t have even conceived of becoming completely debt free. What inspired you to get debt free?

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Meet Doug & Laura. They Paid off $23,000 in 16 Months. | Debt Free Stories

Family Balance Sheet

He took all of our financial information and put together a plan for us to get out of debt as fast as possible. What are the top 3 – 5 ways you found money to put towards debt. Because we wanted to get out of debt as fast as possible, we stopped saving money after we had an emergency fund in place.

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Meet Amanda & Daniel. They Paid Off $68,000 in Debt in 8 Months.

Family Balance Sheet

We have always loved to travel and do missions work for our church. We realized that we wanted to travel as a family and the only thing keeping us from seeing the world was money. We have led 7 sessions of Financial Peace University mostly to keep ourselves motivated. Who initiated the debt free goal?

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Find out how Lydia & her Husband Paid off $36,000 in Debt in 2 Years

Family Balance Sheet

I am a stay at home mom and freelance marketer and my husband works in the construction industry. How much debt did you pay off? What kind of debt was it? The fear of losing my baby led to the desire for me to be a stay at home mom, but I knew that would never work if we were in such debt.

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Meet Krista & Jon Who Paid Off $36,000 | Debt Free Stories

Family Balance Sheet

We’ll live in a dorm (which fits us perfectly but we know sounds terrible to others) in our own apartment while I (Krista) work in student development providing mentoring/counseling/student discipline to the 150 women in the dorm and Jon will work right across the street as the assistant director of admissions.

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