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Create your debt freedom plan

Family Balance Sheet

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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My 2020 Financial Goals & A Recap of 2019

Family Balance Sheet

My word was REDUCE: Non-mortgage debt to zero. There were hits and misses on this list, and many are things that I will continue to work on, but let’s recap: 1 – Reduce non-mortgage debt to zero. We’ve been working since 2013 to pay off a boat load of non-mortgage debt. Moving on to 2020!

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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

My family’s finances have also been affected. How Our Debt Freedom Plan Prepared Us for the Pandemic. It was during this time that I created my first Family Balance Sheet. As the Family Office Manager , I handle the day-to-day finances for our family and I needed a way to communicate our finances to my husband.

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How We Paid off Six Figures of Debt

Family Balance Sheet

It was so big that I cried for two days straight– we paid off six figures in non-mortgage debts. How we got to six figures of non-mortgage debt: In the summer of 2012, we found an opportunity to purchase an office building for our small business. After the first year, the new business debt weighed on me.

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Our Family Finances Update: January 2021

Family Balance Sheet

January 2021 was a month of extremes in my family’s finances. We’re converting our basement to a family room area and the original family room (in the pic above) is becoming a home office. This money gets sent automatically to the 529 accounts we set up for our girls in 2020. Found Money in January: $1681.

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My Word for 2021

Family Balance Sheet

I wanted to reduce our non-mortgage debt, my clutter, my distractions, my impact on the environment, and my consumption of sweets. After 2019, I had a lot of hope for finding a word for 2020 but struggled to find one that was meaningful to me. Read: My 2020 Financial Goals. I read more in 2020 than I have in years.

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Our 2023 Financial Goals

Family Balance Sheet

That was the year that we made the goal of paying off the last of our non-mortgage debts and we achieved it by September of that year. I cried for days and we celebrated the occasion with a family cruise a few months later. In 2020, our financial goals were to read, research, and understand both college and retirement planning.