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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. DONE 2013. . |

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2019 Debt Freedom Plan Update

Family Balance Sheet

Updates on our Debt Freedom Plan over the years: Our Original Debt Freedom Plan – written in March 2014. 2016 & 2017 Update. We still have a mortgage, so we’re technically not DEBT-FREE, but we paid off over 6 figures of business debts and student loans since 2012 and have wiped out our NON-mortgage debt.

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

Family Balance Sheet

Meet The Achievers: Deacon and his wife paid off $52,000 in debt in 18 months. His 2017 goal is to make $100,000 in online income. Her 2017 goal is to save $20,000 in cash. Elle and her husband paid off a car loan and saved cash for their next car. Her 2017 goal is to earn $10,000 a month in online income.

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How We Paid off Six Figures of Debt

Family Balance Sheet

But at the beginning of our journey to pay off the debt, I was listening to Dave Ramsey on the radio. As part of his baby steps, he does not advocate contributing to retirement until after you’ve paid off non-mortgage debts and saved 3-6 months of expenses in an emergency fund. We said NO a lot.

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