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Create your debt freedom plan

Family Balance Sheet

We also didn’t feel comfortable with Dave’s suggestion of a $1000 starter emergency fund, which is his step #1. 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. Increase business emergency savings.

Debt 130
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My Life Plan

Family Balance Sheet

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. Increase our emergency fund to 6 months of expenses. Contribute to our retirement funds. Celebrate debt freedom with a big family trip to Hawaii or Paris.

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Our Debt Freedom Plan | Marriage & Money

Family Balance Sheet

Save $$$ Home Emergency Fund – Dave suggests to start at $1000, but being self-employed, ours is much higher, but it is not quite 3-6 months of expenses. The purpose is to cover any sudden expenses so that we don’t go into more debt when dealing with them. | DONE. Cash flow a FAMILY TRIP TO HAWAII.

Debt 100
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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. They took it one step at a time though, first by building up emergency funds as quickly as possible, then by paying off the credit cards and committing to no new debt.