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Advice for Moms Advice for Moms

Keep saving or pay something off?

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So long story short, I recently got divorced and moved myself and my three kids back home with my parents.  I am currently working and trying to get out of debt.  I have about $600-ish in savings and am debating whether to keep saving it for future deposit/1st months rent so we can move out or put it towards one of my debts.

What would you do?  I can't move out anytime soon but it would be nice to have that money there and ready when we can move out.


by on Jul. 21, 2013 at 6:17 PM
Replies (11-14):
mcknitro
by Member on Jul. 21, 2013 at 8:14 PM
If u are working And your parents are fine helping u out, I would leave your savings alone and use the money your making to pay off debt. U don't want to drain your savings in case u need it for an emergency, but u also want to make sure your debt is paid off too. Good luck I'm also working on paying off debt.
Katt709
by Katharine on Jul. 21, 2013 at 8:15 PM
Pay off debt!
H.Perales
by on Jul. 21, 2013 at 8:15 PM

Pay off small debts first. After that, you'll have plenty of money left over to put in savings once things are paid off. 

:) Best thing we ever did. Gave us peace of mind. 

Jenn8604
by Gold Member on Jul. 21, 2013 at 8:16 PM
Save $1000 first. Than pay off debt. That's how Dave Ramsey says to do it. And live 10-10-80. Tithe 10%, save 10%, live off 80, which includes paying off debt in that 80. If you don't tithe split it 15/85.
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