Family Balance Sheet
MAY 4, 2021
I have used the extra money to pay off debt, fund family trips, or build up our Christmas savings. Credit Card Cash Back Redemptions in April: $439.62. Years ago during our Debt Freedom Plan, I avoided using credit cards, not because we had credit card debt, but I was trying to limit our overall spending.
Family Balance Sheet
SEPTEMBER 9, 2014
We live in metro Phoenix, in a 70s tract house that we’ve been gradually re-doing. We paid off over $147,000 in debt (actually way over that amount, if you want to count a $210,000 rental property that I sold at a slight loss.) From start to finish it took us a very long time — I would guess 10 years.
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Family Balance Sheet
APRIL 9, 2021
Prior to FPU, we thought we were doing well financially and never considered that we had too much debt. We didn’t carry over credit card balances, we paid off our car notes early, and the interest rate on the student loan was at a low 2.75%. At that time, we didn’t consider all debt to be dumb.
Family Balance Sheet
OCTOBER 6, 2014
If you’re married, you must do this with your spouse. Earlier this year, my husband and I wrote a specific list of financial goals and named it Our Debt Freedom Plan. Too often we only think about goals in January, but today we’re going to work on new financial goals. Is it to pay off your house?
Family Balance Sheet
FEBRUARY 23, 2016
Are you ready to crush debt this year? We’re going to give it everything we’ve got and hopefully pay off the last of our non-mortgage debt by the end of this year. It will be quite a feat because by my calculations we’ll be short each month if we just apply our debt snowball payment.
Family Balance Sheet
FEBRUARY 2, 2017
Maureen eliminated $79,000 of credit card and student loan debt less than 3 years. Chris and his wife made a financial goal to switch to an all cash lifestyle, instead of relying on credit cards. Their 2017 goal is to wipe away $30,000 from their mortgage to keep them on track to pay it off in 36 months.
Family Balance Sheet
SEPTEMBER 29, 2016
We’re typical Canadians that spend most of our free time in the fall and winter months inside arenas. We had two student loans that still had balances, even though we’d already been paying on them for 10 years. We also had four credit cards, two lines of credit, and a car loan.
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