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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. To ease my anxiety about our new loans, we took the Financial Peace University home course and it changed how we thought about debt.

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Our 2019 Financial Goal

Family Balance Sheet

In 2018, we decided to focus on just 2 main financial goals and before I share my 2019 goals I thought I would give you a recap on 2018. Our 2018 Financial Goals: Finish our Will. In March of 2018, we had our wills, medical directives, and powers of attorney completed by an attorney. It’s similar to a deductible.

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Our Family Finances Update: January 2021

Family Balance Sheet

Yep, I found a $20 bill last year on the beach! This money will go towards paying the actual medical bills from the injury. I said goodbye to mini-van life in January when we traded in our 2007 Honda Odyssey for a 2018 Toyota Highlander. And we paid off six figures of business debt before, we will pay off this car loan too.

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Family Office Manager

Family Balance Sheet

After 20 years, I switched from Quicken software to You Need a Budget (YNAB) software in 2018 for our household. Pay our bills in a timely manner. Most are now set up on automatic billing which almost makes this a non-issue, but early on when I mailed actual checks, paying bills on time was a top priority.

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How to Achieve Your Financial Goals (tips from the achievers)

Family Balance Sheet

They pay off mountains of debt and scream about debt freedom, or maybe they save gobs of money in a record amount of time, or they have considerable success with their new small business. Meet The Achievers: Deacon and his wife paid off $52,000 in debt in 18 months. His 2017 goal is to make $100,000 in online income.

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My Word for 2019

Family Balance Sheet

I want to reduce our debt by paying off our last non-mortgage loan. . It was a goal in 2018, but high medical bills and other financial challenges hindered our progress. I ran my 10th half marathon in 2018 and have 2 more races planned for 2019. My word for 2019 is REDUCE. My plan is for 2019 to be different.

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Our 2017 Debt Freedom Plan Update

Family Balance Sheet

As I reflect back to January 2016, I started that year pretty determined to pay off the balance of our non-mortgage debts. Unfortunately, we did not hit that goal and in part, have made some major changes to our Debt Freedom Plan. Our Debt Freedom Plan Started in 2013: The year 2012 was quite exciting for me and my husband.

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