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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

Hello and welcome to the 316th Carnival of Personal Finance- Family Edition. Families are our rock, our support system, and our fans. Philip from Deliver Away Debt shares his story: How I Delivered Away My Debt. Big Cajun Man from THE Canadian Personal Finance Site asks What is Your Financial Plan B?

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Find out how Deacon & his Wife Paid off $52,000 of Debt in 18 Months

Family Balance Sheet

Today’s Debt Free Story is from Deacon. I have a passion to help people take control of their finances so that they can live the life they want to have. How much debt did you pay off? What kind of debt was it? We paid off $52,000 in consumer debt. What inspired you to get debt free? Where are you from?

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How Much Interest Is Your Debt Costing You Every Month?

Family Balance Sheet

Have you ever broken down your debt payments to see how much goes to your principal and how much goes to interest? Look at your mortgage, your credit cards and your student loans. You will see your debts in a whole new way. Maybe it'll tick you off enough to finally take a sledgehammer to that debt. THAT SUCKS!

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Spring Clean.Your Finances

Family Balance Sheet

You spring clean your home; why not spring clean your finances? Welcome in the beauty of the season with 5 Steps to Spring Cleaning Your Finances Review your 2011 Financial Goals. The Family Balance Sheet is a form that I created to help me communicate the state of our finances with my husband. Let us know in the comments.

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How to Build your Emergency Fund

Family Balance Sheet

Do you have enough cash to cover them or would you have to rely on high-interest credit cards or a loan from your family? With little money in their bank accounts, these Americans couldn’t afford these unfortunate expenses without using a credit card or maybe relying on a loan from family and friends.

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A Goal Without a Plan is Just a Wish

Family Balance Sheet

However a few years ago, we found ourselves with too much debt and not enough cash. Within a year after settlement, we found ourselves with a lot of debt, not enough cash flow, and very little set aside for emergencies. I manage the finances for our business and our family and by August 2013, I felt the weight of the situation.

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Emergency Funds: Emergencies Happen When You Least Expect It

Family Balance Sheet

Had it not been for the money in our emergency savings, we would most likely have used credit cards to survive. Three to six months living expenses used to be what the personal finance experts recommended, but in today's environment, maybe six months to a year is more prudent. It was a scary time for us. It is for emergencies.