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2019 Debt Freedom Plan Update

Family Balance Sheet

Our Debt Freedom Plan has been a long winding road. 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. From what we learned in the course, we wrote our Debt Freedom Plan. We were trying to be responsible. 2018 Update.

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How to Create a Family Balance Sheet + Get a FREE one for your family!

Family Balance Sheet

You’ll know how much is in your checking and savings accounts and your retirement accounts. Debts still need to be paid, cars will need new parts, homes will need to be repaired, and kids will need braces. There was a time our spreadsheet reflected a lot of debt and not a lot of savings.

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2012 Financial Goals

Family Balance Sheet

We are still working through some numbers and there might be some adjustments in the timelines we have given ourselves, but these are our financial priorities for 2012. Our 2012 Financial Goals. Increase our Monthly Debt Payment. We have set a goal date of July 2015 to pay off all of our debt. Finish Will.

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Our 2019 Financial Goal

Family Balance Sheet

Save $10k in a savings account, specifically earmarked for medical expenses. I have yet to write a Medi-Share recap for 2018, but our goal was to replenish the healthcare savings account that we depleted in 2017. Before we wrote our Debt Freedom Plan in 2012, I couldn’t see the forest through the trees.

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A Goal Without a Plan is Just a Wish

Family Balance Sheet

However a few years ago, we found ourselves with too much debt and not enough cash. When a building in our town went into foreclosure in 2012, we considered the opportunity to own. Within a year after settlement, we found ourselves with a lot of debt, not enough cash flow, and very little set aside for emergencies.

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Carnival of Financial Planning – Money Management Edition #231

Prairie Eco-Thrifter

Welcome to the April 6, 2012 Edition #231 of the Carnival of Financial Planning. ” Managing Debt. Jeremy Waller presents Do You Have What It Takes To Be Debt Free And Financially Successful? You see theres a reason that the majority of people are in debt. Here are 5 steps to painlessly become debt free.

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