article thumbnail

How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

Our first storm: 2007. The year 2007 held such promise for us when it started, but by the end of the year, we were brought to our knees. As self-employed small business owners, we have lived through some tough months, but in 2007, it was a tough year. For a variety of reasons, our business slowed down in 2007.

Debt 130
article thumbnail

How to Build your Emergency Fund

Family Balance Sheet

According to a recent survey , over half of Americans have less than $1000 in their savings and checking accounts. We have lived through some challenging months as small business owners, but 2007 was a very tough year for us. What helped us through that time was the money we had saved in our emergency account. A Very Tough Year.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Get Healthy and Save Money

freestuff.tv

It is is a bad habit that a 2007 report states that about 4.9 With the European economic fallout tipped to be GFC mark 2, the money that you can save now will help you in the future should things get really rough. Please subscribe via Email to have savings, advice, coupons and offers sent directly to you. whyquit.com.

article thumbnail

Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

The year 2007 held such promise for us when it started, but by the end of the year we were brought to our knees. As self-employed owners of a small business, we have lived through some tough months, but in 2007, it was a tough year. Your wants and dreams are secondary and need to be saved for separately. Absolutely!

article thumbnail

Our Family Finances Update: January 2021

Family Balance Sheet

I said goodbye to mini-van life in January when we traded in our 2007 Honda Odyssey for a 2018 Toyota Highlander. We had very little saved for a new-to-us car and we would have had to take out a loan to cover most of it, and that made me uneasy about purchasing the car. So in the effort of transparency, I took out a car loan.

Finance 130
article thumbnail

How to Build your Emergency Fund

Family Balance Sheet

According to a recent survey , over half of Americans have less than $1000 in their savings and checking accounts. We have lived through some challenging months as small business owners, but 2007 was a very tough year for us. Our saving grace was the money we had saved in our emergency account. A Very Tough Year.

article thumbnail

Create an Emergency Fund | 31 Days to Organize Your Finances

Family Balance Sheet

As self-employed owners of a small business, we have lived through some challenging months, but the year 2007 was especially tough for us. Every month, our income must cover our business and household expenses, but many months in 2007, our income barely covered our business expenses, leaving nothing left for our household.