#146: Should You Save Or Pay Off Debt?

Inspired Budget

Should you save money or pay off debt? Can you do both?

You’re likely listening to this episode because you want to pay off debt. Imagine you're in the middle of a tug of war, but instead of teams, you've got your savings goals on one side and your debt on the other. You're pulling hard towards one side, trying to make progress, but it feels like the other side is pushing back just as hard.

It's like you're stuck in this never-ending struggle, and it can get pretty frustrating. The trick is to figure out how to manage your money just right so you're not constantly feeling pulled in two directions at once. Balancing the two is key to keeping your sanity and making progress on both your debt free journey as well as your savings journey.

In this episode, I discuss:

• Five actionable steps to pay off debt and save money simultaneously.
• Why your emergency fund can keep you out of debt.
• How to invest for the future while paying off debt.

This episode is perfect for anyone who has asked themselves if they should save money or pay off debt.

You Might Like:

• Get the BRAND NEW FREE Goodbye Debt Tracker!
• Grab my FREE Budgeting Cheat Sheet.
• Follow Allison on Instagram! @inspiredbudget
• Check out Inspired Budget's blog.
• Take my FREE class on How to Budget to Build Wealth!

Chapter

1. Balancing Debt and Savings (00:00:00)

2. Balancing Debt and Saving Money (00:08:10)

3. Financial Tips for Savings and Debt (00:15:52)