Family Balance Sheet
MAY 6, 2020
How Our Debt Freedom Plan Prepared Us for the Pandemic. We spent the next few years building our savings back up to the level we had prior to 2007. 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. Our first storm: 2007.
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. From what we learned in the course, we wrote our Debt Freedom Plan. We were trying to be responsible. 2018 Update.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Family Balance Sheet
MARCH 19, 2014
Prior to FPU, we thought we were doing well financially and never considered that we had too much debt. We didn’t have credit card debt, we paid off our car notes early, and the interest rate on the student loan was at a low 2.75%, so we thought we were doing okay. But Dave Ramsey’s view of debt is very different.
Savings Corner
APRIL 4, 2024
Paying down your mortgage helps build equity in your home, but you don’t have to wait until you completely repay it, or sell the property, to access that equity. You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs.
Family Balance Sheet
JUNE 4, 2015
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. We crunched the numbers, spoke with our accountant, and after much deliberation and negotiation, we bought the building that summer.
Savings Corner
APRIL 4, 2024
You can use your equity to renovate some rooms, pay off credit cards, cover college tuition, start your own business … or almost anything else. It represents the total debt against the home: both the original mortgage and the size of the new home equity loan or line of credit. Home equity can be a valuable resource for homeowners.
Savings Corner
APRIL 4, 2024
Key takeaways A home equity loan allows you to borrow a lump sum against your home’s equity, usually at a fixed interest rate that’s lower than other forms of consumer debt. While high compared to their average of six percent in 2022, that’s significantly lower than other forms of consumer debt. What is a home equity loan?
Expert insights. Personalized for you.
130 
Let's personalize your content