Paying off Debt VS Saving For the Future | Ep 63

If you’ve ever wondered, “Should I be saving right now or paying off my debt?”—this episode is your guide. Jen, Meri-Li, and Sybil unpack one of the most common (and complicated!) financial questions women ask. They’ll walk you through real-life examples, mindset shifts, and simple frameworks to help you make the decision that’s right for YOU. Whether you're juggling high-interest debt, trying to grow an emergency fund, or doing both, this conversation will help you feel less overwhelmed and more empowered to take action. ✅ Be part of our community! -Grab our FREE Snowball Debt Calculator. -Join our supportive $5/month community for women learning to manage their finances. -Do you have questions or ideas? Connect with us! Instagram: @femalefinance.collective Facebook, YouTube, Pinterest: Female Finance Collective Timestamps: 00:00 – Meet the hosts 01:00 – The #1 question: Save or pay off debt first? 01:30 – Why an emergency fund is step one 04:00 – Planning for life’s inevitable money bombs 05:20 – When debt payoff takes priority 07:00 – Reframing debt payoff as savings 08:10 – The power of cash flow and flexibility 09:40 – Can you do both? Balanced approaches that work 10:45 – Using percentages to decide how much to save vs. pay off 12:00 – Don’t forget taxes (especially if self-employed) 13:20 – How the 50/30/20 rule can help 14:50 – Final thoughts: You’re not doing it wrong *Disclaimer: The Female Finance Collective podcast is for educational purposes only as we share our personal experiences and opinions. To make the best financial decisions for you, research and contact a financial advisor with questions. Remember, all investments involve some form of risk; there is no guarantee that you will be successful in making, saving, or investing money, and there is always a risk of loss when investing.