Family Balance Sheet
OCTOBER 18, 2019
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.
Family Balance Sheet
APRIL 9, 2021
Many years ago, my husband and I faced what we thought was an insurmountable hurdle– six figures of non-mortgage debts. Prior to FPU, we thought we were doing well financially and never considered that we had too much debt. But Dave Ramsey’s view of debt is very different. Debt is Dumb and Cash is King.”. “…and
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Family Balance Sheet
JUNE 22, 2020
In September 2019, my husband and I accomplished our biggest financial goal in our almost 20 years of marriage. It was so big that I cried for two days straight– we paid off six figures in non-mortgage debts. After the first year, the new business debt weighed on me. Our non-mortgage loans totaled over six figures.
Family Balance Sheet
MAY 6, 2020
How Our Debt Freedom Plan Prepared Us for the Pandemic. I remember one morning my husband and I were sitting at the kitchen table contemplating if we should sell one of our cars. We’d survived the dip in 2007, carried no credit card debt, and we were contributing to our retirement. This new business debt weighed on me.
Family Balance Sheet
APRIL 11, 2020
We paid off our last non-mortgage debt in September and have since sent that loan’s monthly payment to our mortgage principal. Our only spending going forward will be for essentials, such as our mortgage, utilities, groceries, our Medi-Share premium , and fuel for the cars. Plus, I was getting antsy for a new car.
Family Balance Sheet
FEBRUARY 6, 2021
We…took out a car loan. The backstory: In November 2019, my van was in need of new tires and I was debating on whether to get the new tires or start looking for a replacement vehicle. Instead, we opted to replace the tires and take a year or so to save for a car. So in the effort of transparency, I took out a car loan.
Savings Corner
DECEMBER 24, 2023
To calculate your net worth, take inventory of what you own, as well as your outstanding debt. And when we say own, we include assets that you may still be paying for, such as a car or a house. That includes revolving consumer debts — such as credit card balances — as well as personal, auto, payday and title loan balances.
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