K’s Financial Progress hosted the 4th Carnival of Debt Reduction.  The top article on that carnival was written by Jim over at Blueprint for Financial Prosperity:

Don’t save, pay off debt!

His argument is a good one.  If you have a lot of credit card debt or loans to pay off, pay those off before socking away a lot of money in a savings account.  The interest you’re likely to earn on a savings account is a lot less than the interest you’ll pay on most credit card balances (unless it’s a 0% balance transfer).  Earning 4% or even 5% in a high-yield savings account is counter-productive if it’s more than you need for an emergency fund and if you have balances that are costing you 15% or 20% or more.  Once the debt is gone, the leak in your checkbook will dry up and then you can go to town and save like gangbusters.

• Flashback: Choose carefully which debt you repay first Free Money Finance hosted Carnival of Debt Reduction #12, and the post by Retire at 30 entitled Don't Repay Your Student Loans isn't exactly the crux of the post, but the point inside is a good one.  Some loans are worth paying off early.  (Actually, all non-productive loans are worth......
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• Start Saving Money Today Here are five ways that you can begin to save money, beginning today. Americans are not saving enough money in this day and age to help ensure their stability financially. If you have enough money in your savings account, then it is going to be able to protect you from......
• Debt and the Holidays A lot of people make use of their credit cards when shopping for the holiday season on the premise that they are going to pay all of the newly formed debt off within only two or three months time. Unfortunately, most people are still trying to tackle these credit card......