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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

Life, as we knew it came to a halt for so many of us in mid-March, and life going forward will forever be known as pre-pandemic or post-pandemic. 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.

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2019 Debt Freedom Plan Update

Family Balance Sheet

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. Updates on our Debt Freedom Plan over the years: Our Original Debt Freedom Plan – written in March 2014. 1 – Save a starter Home Emergency Fund. 2018 Update.

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Update #1: Our Debt Freedom Plan

Family Balance Sheet

Back in March I wrote about my family’s Debt Freedom Plan. Our current savings is not at a true emergency fund level of 3-6 months, but further down our plan, we will save up to that level. The server in our office is about 10 years old and has reached capacity.

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Meet Aja. She & her husband Paid Off $110,000 in Debt

Family Balance Sheet

I own a software consultancy that I run from home and my husband is a letter carrier with the post office. I had a client engagement in Las Vegas in March 2014. We are almost done with our 3-6 month emergency fund and will begin maxing out our retirement accounts. We have 2 girls that I am home schooling this year.

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