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Create your debt freedom plan

Family Balance Sheet

We also didn’t feel comfortable with Dave’s suggestion of a $1000 starter emergency fund, which is his step #1. The point of the starter emergency fund is to get you through until you pay off your non-mortgage debts, at which point, you build a more extensive fund. Increase business emergency savings.

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2019 Debt Freedom Plan Update

Family Balance Sheet

1 – Save a starter Home Emergency Fund. Dave Ramsey suggests to have a starter emergency fund of $1000 while focusing on paying off non-mortgage debt. We have definitely dipped into this fund often, so I’m glad I strayed from his advice here.

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How I’m Managing our Family Budget during the Pandemic

Family Balance Sheet

Our business has definitely been affected with no end in sight. I have written often about the importance of an emergency fund. Finances after the Pandemic: We went through a rough time back in 2012/2013 and we wrote our Debt Freedom Plan as a result of it. Being self-employed, we need the security that it offers.

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2012 Financial Goals

Family Balance Sheet

Increase Family Emergency Fund to Six Months Salary. My husband and I have some ideas about how much we want to contribute and we definitely need to devise a game plan this year. We want to go to Walt Disney World in the fall of 2012 or spring of 2013. This might take us 2 years to achieve.

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Carnival of Personal Finance #384 – Time for a Laugh Edition

Prairie Eco-Thrifter

Locations that are desirable by definition attract highly qualified people in all fields, so your chances of landing a job in one are very poor. ” Investor Junkie from Investor Junkie presents Quicken 2013 Review – Now with Mobile Access Support , and says, “Quite a few items were improved in the Quicken 2013 edition.

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Shannon & Her Husband Paid off $22,000 in 9 Months

Family Balance Sheet

In January 2013 there was a blog post on Keeper of the Home that first awakened me to the concept of living debt free. I wasn’t comfortable keeping only $1,000 in an emergency fund with two little ones and just one income, so we didn’t follow that part of his plan. Read more about Shannon’s debt free journey.

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How We Paid off Six Figures of Debt

Family Balance Sheet

By the summer of 2013, we found ourselves in a pickle–we had too much debt and not enough cash flow. I don’t make a lot of income on this blog, and it has definitely decreased recently as I’ve reduced my hours spent blogging. Our non-mortgage loans totaled over six figures. Also, we both have side hustles.

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