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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

For many households, their finances and budgets are in limbo. My family’s finances have also been affected. How Our Debt Freedom Plan Prepared Us for the Pandemic. As the Family Office Manager , I handle the day-to-day finances for our family and I needed a way to communicate our finances to my husband.

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5 Lessons Learned When Our Finances Went Awry

Family Balance Sheet

We carried no credit card debt and we contributed to our retirement. But in August 2013, our business softened, renovations to our new building were more costly than planned, and we were now the owners of two mortgages, our home and our business. We had a lot of debt, not enough cash flow, and very little set aside for emergencies.

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Our Debt Freedom Plan | Marriage & Money

Family Balance Sheet

Prior to FPU, we thought we were doing well financially and never considered that we had too much debt. We didn’t have credit card debt, we paid off our car notes early, and the interest rate on the student loan was at a low 2.75%, so we thought we were doing okay. But Dave Ramsey’s view of debt is very different.

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Cash-Out Refinancing: How It Works, When To Do It

Savings Corner

You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs. Cash-out refinances are generally best for big-ticket costs: Think home renovations or major debt consolidation. The difference between the two is given to you in a lump-sum payment.

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What Is A Personal Loan?

Savings Corner

Key takeaways A personal loan is money you can borrow to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms. You will also start to repay the money.

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Friday Links – Day Off Edition

Prairie Eco-Thrifter

If so, bookmark SFB’s post about How to Set Yourself Up To Be a Financial Success When Starting the First Job at Simple Finance Blog. Staring a home renovation? If so, don’t miss Mike’s post about the 5 Costly Mistakes Contractors Make When Starting a Home Remodel Project at Personal Finance Journey.

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Family Budget Spreadsheets 2021

Family Balance Sheet

If your fresh start for the New Year includes improving your finances, you are not alone! Saving more money is one of the top resolutions that people make…after getting in shape and eating healthier. I created it as a way to communicate our finances to my husband. Are you ready for a fresh start?

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