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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

Our emergency fund. I am totally paraphrasing the year, but had it not been for the money in our emergency savings, we would most likely have used credit cards to survive. We reduced our spending where we could, but the money to pay any shortfall each month came from our emergency fund. Yep, life was good.

Debt 130
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How to Budget (and Pay) for Yearly Bills + a FREE Speadsheet

Family Balance Sheet

They can cause a panic, especially when just one bill is into the four figures, like our property taxes or auto insurance! For ideas to find those funds, read: 25 Ways to Find Money for Your Emergency Fund. Do you have a fund like this to pay those bills? How to Build your Emergency Fund.

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How We Paid off Six Figures of Debt

Family Balance Sheet

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. We had been renting for over 10 years and we were ready to find a property to move our business to and eventually build our net worth. Everything looked great on paper.

Debt 130