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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

How Our Debt Freedom Plan Prepared Us for the Pandemic. We’d survived the dip in 2007, carried no credit card debt, and we were contributing to our retirement. Our small business was going well, so we said so long to renting office space and purchased a commercial property in the summer of 2012. Our first storm: 2007.

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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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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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How I’m Managing our Family Budget during the Pandemic

Family Balance Sheet

We paid off our last non-mortgage debt in September and have since sent that loan’s monthly payment to our mortgage principal. This is not an elective, fun, no-spend month like what we did in January to find funds for our summer vacation. Update our Debt Freedom Plan to reflect lessons learned during this crisis.

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Our Family Finances Update: January 2021

Family Balance Sheet

We think we’ll use the money towards summer vacation. I talk a lot about debt freedom and that is still a goal of ours, and our Debt Freedom Plan will be adjusted. My husband drives a 2012 vehicle and in 2019 we got rid of a 2001 Honda Civic, which we bought new during my previous commuter life–pre-kids.

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Carnival of Financial Planning – Money Management Edition #236 – May 11, 2012

Prairie Eco-Thrifter

Welcome to the May 11, 2012 Edition #236 of the Carnival of Financial Planning. ’ Financial Planning Ashley presents Should I Get Married with Debt? KT presents In Debt Consider Paying Cash for Your Purchases posted at Personal Finance Journey , saying, “Are you in debt besides the mortgage?

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Alternatives to College

Prairie Eco-Thrifter

We all have been taught that a college degree is the path to the good life, but is it still – when students are emerging with heavy debt and little chance of a lucrative job? But, at least I graduated without debt. Should today’s high school students consider avoiding the debt and going after those jobs instead?

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