Family Balance Sheet

MAY 6, 2020

Our emergency fund. I am totally paraphrasing the year, but had it not been for the money in our emergency savings, we would most likely have used credit cards to survive. We reduced our spending where we could, but the money to pay any shortfall each month came from our emergency fund. Storm #2: 2013.

Debt 130

Debt Emergency Fund 2007 2020 130

Family Balance Sheet

OCTOBER 18, 2019

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. 2 – Increase business emergency savings.

Debt 100

Debt 2019 Financial Goals Emergency Fund 100

Family Balance Sheet

JANUARY 17, 2018

Our Debt Freedom Plan (an update): In 2013, we found ourselves with a lot of debt and not enough cash flow. 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. Increase business emergency savings. 2017 Update.

Financial Goals 113

Financial Goals Goals 2018 Debt 113

Family Balance Sheet

JUNE 11, 2014

It happened in 2006 and again in late 2012 to early 2013. By summer 2013, our savings was at an uncomfortable level. Our current savings is not at a true emergency fund level of 3-6 months, but further down our plan, we will save up to that level. We are now on to our third step: Cash flow necessary business expenses.

Debt 100

Debt Emergency Fund Financial Goals Motivation 100

Family Balance Sheet

JUNE 22, 2020

Aside from the mortgage, we also added equipment and renovation loans with the purchase, and we had a student loan. By the summer of 2013, we found ourselves in a pickle–we had too much debt and not enough cash flow. After the first year, the new business debt weighed on me. Our non-mortgage loans totaled over six figures.

Debt 130

Debt Health Insurance Insurance Budgeting 130