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2019 Debt Freedom Plan Update

Family Balance Sheet

Our Debt Freedom Plan has been a long winding road. The journey started in 2012 when we bought an office building for our business and then found ourselves with a lot of debt and not enough cash flow. To ease my anxiety about our new loans, we took the Financial Peace University home course and it changed how we thought about debt.

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Create your debt freedom plan

Family Balance Sheet

Many years ago, my husband and I faced what we thought was an insurmountable hurdle– six figures of non-mortgage debts. Prior to FPU, we thought we were doing well financially and never considered that we had too much debt. But Dave Ramsey’s view of debt is very different. Debt is Dumb and Cash is King.”. “…and

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5 Steps to CRUSH Debt + FREE Debt Payoff Goal Tracker

Family Balance Sheet

Did you make a goal to pay off debt this year? For many years, we made a yearly goal to chip away at our six figures of non-mortgage debt. It took us years to pay it all off, but we achieved it in 2019. Our journey to debt freedom started back in 2013 when we found ourselves saddled with business and student loans.

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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

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. This new business debt weighed on me. I decided to use Dave Ramsey’s 7 Baby Steps as a guide and I wrote our first Debt Freedom Plan. Storm #2: 2013.

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Our 2019 Financial Goal

Family Balance Sheet

In 2018, we decided to focus on just 2 main financial goals and before I share my 2019 goals I thought I would give you a recap on 2018. We hunkered down and paid our expected medical expenses and by the end of 2018, we were also able to save enough money to cover us for 2019. I almost stopped writing goals down altogether.

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My Word for 2019

Family Balance Sheet

So will 2019 be any different for me? My word for 2019 is REDUCE. I want to reduce our debt by paying off our last non-mortgage loan. . My plan is for 2019 to be different. I ran my 10th half marathon in 2018 and have 2 more races planned for 2019. In fact, I turn 50 in 2019. REDUCE is my word for 2019.

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My Word for 2021

Family Balance Sheet

But 2019 was different. I wanted to reduce our non-mortgage debt, my clutter, my distractions, my impact on the environment, and my consumption of sweets. By the end of 2019, we nailed one major bullet point and I was on cloud nine. Read: A 2019 Recap. How our Debt Freedom Plan Prepared Us for the Pandemic.

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