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. 10 – Pay Off Mortgage Debt. . We were trying to be responsible. Start Additional Savings Accounts.
Family Balance Sheet
APRIL 9, 2021
The point of the starter emergency fund is to get you through until you pay off your non-mortgage debts, at which point, you build a more extensive fund. But $1000 was not nearly enough money to cover sudden emergencies in both our home and business. We also had some building repairs that we needed to cash flow.
Savings Corner
APRIL 4, 2024
You can use the funds from a home equity loan for any purpose, but there’s a possible tax benefit if you use the money to improve your home. You can deduct the interest (up to the limit) if the home equity loan is used to “buy, build or substantially improve” the property.
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