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Create your debt freedom plan

Family Balance Sheet

Yet after listening to Dave’s approach, I knew I didn’t want to be anybody’s slave and if I was being honest with myself, the total amount of debt payments we made every month was ridiculous. After the FPU class, we looked at our debts differently. If others could knock out debt, we could too. Pay Off Mortgage Debt.

Debt 130
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My Life Plan

Family Balance Sheet

But once I created our debt freedom plan and outlined the steps we would take to wade through the hardships, I was overcome with relief. The plan allowed us to think beyond the financial struggles we were dealing with at the time and we could envision what our future might look like. Our Financial Goals: Pay off our non-mortgage debt.

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Meet Aja. She & her husband Paid Off $110,000 in Debt

Family Balance Sheet

Today’s debt free story is from Aja. We paid down mostly student loans, vehicles and business credit card debt ( we already own a home outright ). What inspired you to get debt free? We realized that debt payments were eating into our income and potential to build wealth. Where are you from?

Debt 100
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Our Debt Freedom Plan | Marriage & Money

Family Balance Sheet

But I personally don’t want to be any body’s slave and the total debt payment we make every month is astounding. After the FPU class, we looked at our debts differently. Becoming debt free became appealing and the idea of being able give more, save more and live more took my breath away. But we needed a plan.

Debt 100
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So here’s what I got.

Saving In Akron

This all goes back to having an emergency fund and paying yourself first. Lack of debt means freedom and the ability to make the choices you want to make. My family would not have survived without that emergency fund. Remember, it's only a good deal if you can afford it. Anyone can do this.

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How to Achieve Your Financial Goals (tips from the achievers)

Family Balance Sheet

” But here’s the deal, many of these people have had challenges and tough circumstances, and more often than not, money wasn’t handed to them. Their 2017 goal is to pay off the remaining balance on their mortgage ($27,900) and be DEBT FREE! ” Pay off Debt. Save for emergencies.

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Sigh.

Finally Frugal

I'm pretty sure I've mentioned my 15 (almost 16) year old 'beater' car, which I'm trying to keep running until I'm debt-free. or whether to use the money from my extra jobs, thereby NOT sending that money to my debt. My emergency fund earns 1.10% interest. My debt 'earns' between 8.25% and 8.9%