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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

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.

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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

. … cue the Jefferson Starship song, “Nothing’s going to stop us now”… Fast forward to September. 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. DONE – 6/1/2014. DONE 2015.

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How I’m Managing our Family Budget during the Pandemic

Family Balance Sheet

I have written often about the importance of an emergency fund. We paid off our last non-mortgage debt in September and have since sent that loan’s monthly payment to our mortgage principal. 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.

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How to Achieve Your Financial Goals (tips from the achievers)

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She hit that goal in September 2016. They took it one step at a time though, first by building up emergency funds as quickly as possible, then by paying off the credit cards and committing to no new debt. We’ve been paying off non-mortgage debts since 2013. Save for emergencies. goals to get us there.

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Take Control of Your Money in 2015

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I started the Debt Free Stories interview series back in September and it has been really well received. In 2013, The Christmas Savings Club encouraged all of us to save monthly so that we could have a cash Christmas. How to Build a Starter Emergency Fund in 30 Days or Less | Jackie Beck @ The Debt Myth.

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Our 2018 Financial Goals

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An Update on Medi-Share – September 2017. 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.