Comments on: Bulk up savings account, or pay off debt? http://sensetosave.com/2008/10/28/debt-or-savings/ Thu, 11 Mar 2010 13:48:14 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: tiffanie http://sensetosave.com/2008/10/28/debt-or-savings/comment-page-1/#comment-22700 tiffanie Thu, 30 Oct 2008 02:52:58 +0000 http://sensetosave.com/?p=1051#comment-22700 i had built up my $1500 emergency fund, and then switched to debt focus. then when i got my part time job and realized how LITTLE i would be bringing home, i switched again back to focus on savings, trying to get the emergency fund built up even more in case we really need the money down the road (if hours get cut or whatnot). so now i'm putting a set amount into savings each month and sending some snowflake money towards debt if we have it. it's frustrating because it's moving sooooo slowly, but i know it takes time. <em>tiffanie's last blog post..</em><a href='http://www.welikemoney.com/2008/10/29/hectic-schedule-makes-for-lazy-blogging/' rel="nofollow">hectic schedule makes for lazy blogging!</a> i had built up my $1500 emergency fund, and then switched to debt focus. then when i got my part time job and realized how LITTLE i would be bringing home, i switched again back to focus on savings, trying to get the emergency fund built up even more in case we really need the money down the road (if hours get cut or whatnot). so now i’m putting a set amount into savings each month and sending some snowflake money towards debt if we have it. it’s frustrating because it’s moving sooooo slowly, but i know it takes time.

tiffanie’s last blog post..hectic schedule makes for lazy blogging!

]]> By: MrsMoney http://sensetosave.com/2008/10/28/debt-or-savings/comment-page-1/#comment-22637 MrsMoney Wed, 29 Oct 2008 01:19:39 +0000 http://sensetosave.com/?p=1051#comment-22637 I enjoyed that article you linked. It always amuses me to see how others save/pay off debt. I think we've got enough saved in our emergency fund, but I'm going to pad it even more! :) <em>MrsMoney's last blog post..</em><a href='http://ultimatemoneyblog.com/tasty-tuesday-baked-spaghetti-squash-ratatouille' rel="nofollow">Tasty Tuesday! Baked Spaghetti Squash Ratatouille</a> I enjoyed that article you linked. It always amuses me to see how others save/pay off debt. I think we’ve got enough saved in our emergency fund, but I’m going to pad it even more! :)

MrsMoney’s last blog post..Tasty Tuesday! Baked Spaghetti Squash Ratatouille

]]> By: joanna http://sensetosave.com/2008/10/28/debt-or-savings/comment-page-1/#comment-22618 joanna Tue, 28 Oct 2008 17:50:18 +0000 http://sensetosave.com/?p=1051#comment-22618 Although we had outstanding student loans, we chose to build up a 3-month emergency fund and save for a down payment for a house in our first year of marriage- those were our priorities. This summer, we saw the student loan debt totals going down, & decided to pull a "Dave Ramsey" and entirely pay off the student loans, with only the $1000 emergency fund left in the bank. Now we're working to save up a more substantial emergency fund and save for FUN stuff, because we're debt free (besides the mortgage)! As you said, it's a personal decision based on your risk-tolerance, aversion to debt, life stage, and priorities. We made the right decision for us, but it's not for everyone. <em>joanna's last blog post..</em><a href='http://feedproxy.google.com/~r/blogspot/keepingfeet/~3/-fHLerC1pWk/garden-lessons.html' rel="nofollow">Thought for the day</a> Although we had outstanding student loans, we chose to build up a 3-month emergency fund and save for a down payment for a house in our first year of marriage- those were our priorities. This summer, we saw the student loan debt totals going down, & decided to pull a “Dave Ramsey” and entirely pay off the student loans, with only the $1000 emergency fund left in the bank. Now we’re working to save up a more substantial emergency fund and save for FUN stuff, because we’re debt free (besides the mortgage)!

As you said, it’s a personal decision based on your risk-tolerance, aversion to debt, life stage, and priorities. We made the right decision for us, but it’s not for everyone.

joanna’s last blog post..Thought for the day

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