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.

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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.