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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

And I was pregnant with our youngest daughter, so what should have been a joyous year was quite a stressful one. 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. It was a scary time for us.

Debt 130
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5 Steps to CRUSH Debt + FREE Debt Payoff Goal Tracker

Family Balance Sheet

Our journey to debt freedom started back in 2013 when we found ourselves saddled with business and student loans. Being self-employed, we felt we needed more than Dave’s recommended $1000 starter emergency fund that he outlines in his book, so our first step was to save a bit more for our home and office.

Debt 130
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2012 Financial Goals

Family Balance Sheet

This includes our mortgage and my husband's student loan. Increase Family Emergency Fund to Six Months Salary. Our oldest daughter is in Kindergarten and we have not started to save for her higher education. The amount needed is yet to be determined. Start College Savings Accounts for our Girls.

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Our Big Financial Goal for 2016

Family Balance Sheet

At the time, we had 4 business loans and 1 student loan that were weighing on us, so we created our Debt Freedom Plan. We have a retirement to plan , our daughters’ college to save for, and many places to visit. I wouldn’t wish that feeling on my worst enemy. The Game Plan: 1.

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How Krystal and Josh paid off $80k in 4 years!

Family Balance Sheet

medical bills, a small credit card, both of our cars, and student loans. cars, and finally our student loans. emergency fund, so we started throwing what little extra we had straight. daughter’s tenth birthday. First, we will save our six-month emergency fund. We are debt. The biggest.

Debt 100
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How Angela & Jeff paid off $58,000 of Debt in 2 Years

Family Balance Sheet

We have two daughters, Emma (11 years old) and Brooklyn (9 years old). We had two student loans that still had balances, even though we’d already been paying on them for 10 years. We are currently working towards fully funding our emergency fund. When I sat down and added it all up, we were facing $58,704.10

Debt 100
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Our 2018 Financial Goals

Family Balance Sheet

We hit our Annual Household Portion (kind of like a deductible) of $10,000 with Medi-Share in 2017 when our daughter had an unexpected medical condition arise that required multiple tests, 3 surgeries, and medication. Move up the Student Loan Payoff Date. Save a starter Home Emergency Fund. 2017 Update. 2016 Update.