We could get out of debt now if we were gazelle intense. But would it really help us out? We have 2 debts, my car ($7800) and tractor ($22,000). We also have $9300 in savings. We could pay off my car with savings and still have the recommended $1000 emergency fund. Considering we just bought the tractor for $29,000+ and they don't really depreciate like cars, I'm confident we could sell it to cover the loan.
Where would that leave us? We would have paid off a 0% interest loan and not have much in savings if one of us did lose a job. We wouldn't have a tractor loan but we would have no way of moving any snow this coming winter. We may be able to save up for a new tractor but not likely the whole thing before snow falls.
We would be debt free except for our mortgage but its very debatable if we would be in a better position.
What do you think?