Family Balance Sheet
MAY 6, 2020
How Our Debt Freedom Plan Prepared Us for the Pandemic. We’d survived the dip in 2007, carried no credit card debt, and we were contributing to our retirement. Our small business was going well, so we said so long to renting office space and purchased a commercial property in the summer of 2012. Yep, life was good.
Family Balance Sheet
APRIL 11, 2020
We paid off our last non-mortgage debt in September and have since sent that loan’s monthly payment to our mortgage principal. We just finished paying off our non-mortgage debts and now we were considering taking out a car loan. Update our Debt Freedom Plan to reflect lessons learned during this crisis. Cash is King.
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Family Balance Sheet
JUNE 4, 2015
However a few years ago, we found ourselves with too much debt and not enough cash. When a building in our town went into foreclosure in 2012, we considered the opportunity to own. Within a year after settlement, we found ourselves with a lot of debt, not enough cash flow, and very little set aside for emergencies.
Family Balance Sheet
JUNE 22, 2020
It was so big that I cried for two days straight– we paid off six figures in non-mortgage debts. How we got to six figures of non-mortgage debt: In the summer of 2012, we found an opportunity to purchase an office building for our small business. After the first year, the new business debt weighed on me.
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