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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. I felt like a failure at times.

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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. We have zilch set aside for our girls’ college.

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Make Money Your Hobby

Prairie Eco-Thrifter

Not long after college, a friend of mine gave me a list of recommended books. Those books, Kiyosaki’s Rich Dad, Poor Dad , Ecker’s The Millionaire Mind , Orman’s Money Book for the Young, Fabulous, and Broke , among others, became the catalyst for a brand new personal hobby… money. How to Start.

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The Spending Plan Mentality

Prairie Eco-Thrifter

My retirement account contribution, emergency fund contribution, car payments, utility bills, and mortgage are all set up so that they are paid automatically each month. We want an emergency fund. My spending plan is fairly easy to stick to. First, it involves automation. Plan According to Priorities.

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What Money Advice Would You Give Yourself If You Could Go Back in Time

Prairie Eco-Thrifter

I wasn’t doing anything wrong back then; my family lived within our means, we had an emergency fund, and we were saving for retirement and our son’s college costs. It’s about those things that my now self would probably want to give my then self a swift kick in the pants for motivation. Money Tips'

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Meet Tracy, a Single Mom Who Paid Off $41,587 | Debt Free Stories

Family Balance Sheet

Did you follow a particular debt freedom plan or book, such as Dave Ramsey or Debt-Proof Living? I’m working on baby step 3 (3-6 months emergency fund) while paying cash for my new home projects. Find ways to motivate yourself and hold yourself accountable. Celebrate your successes. Life will happen.

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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Jason Price from One Money Design interviews Chuck Bentley: The Root of Riches Book Interview. Chuck wrote the book to challenge how people think about money.&#. Squirrelers from Squirrelers presents The Case for a Bigger Emergency Fund. Is the conventional advice of keeping a 3 to 6 month emergency fund still valid?