article thumbnail

2019 Debt Freedom Plan Update

Family Balance Sheet

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. We never stopped taking vacations, but our trips were mostly camping in our pop-up or renting a beach house with other families.

Debt 100
article thumbnail

Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Tim from How to Make Bankable Savings discusses Buy Versus Rent: Non-Financial Considerations are Ke y The decision to buy or rent your home involves more than a financial analysis. Pat S from compounding returns asks Pay Off Debt or Invest for The Future ? “The family is a haven in a heartless world.&#.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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
article thumbnail

Meet Carrie. She Paid Off $14,000 in Debt in 14 Months.

Family Balance Sheet

I could barely afford my $600 rent payment, which was in a horrible neighborhood. The income from my extra jobs went straight to debt payments, and my regular day job paid the bills, while enabling me to build up a small amount of savings. Who initiated the debt free goal?

Debt 227