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

Penny Pinchin' Mom

I would recommend that you have at least six months to a year’s worth of your monthly expenses saved in the event of a job loss or an unexpected emergency. Some debts like mortgages and personal loans don’t need to be paid off straight away. This means you earn more than if you were to source for funds from a third party.

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

Family Balance Sheet

I work in Finance/Accounting for a large corporation but I have also started a company called Every Single Dollar , which focuses on personal finance for single women. I had $29,000 in MBA student loans, $14,000 in credit cards, and $13,000 in a car loan. How much debt did you pay off?