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How to Build your Emergency Fund

Family Balance Sheet

Life suddenly changed for most of us in March 2020 and this past year of the pandemic has reinforced how important an emergency fund is. If you’re able, maybe use some of your stimulous money to put towards building an emergency fund. That emergency fund saved our business, our sanity, and our marriage.

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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

Life, as we knew it came to a halt for so many of us in mid-March, and life going forward will forever be known as pre-pandemic or post-pandemic. How Our Debt Freedom Plan Prepared Us for the Pandemic. Our emergency fund. This new business debt weighed on me. Everything changed. Our first storm: 2007.

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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. To ease my anxiety about our new loans, we took the Financial Peace University home course and it changed how we thought about debt.

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Update #1: Our Debt Freedom Plan

Family Balance Sheet

Back in March I wrote about my family’s Debt Freedom Plan. Our current savings is not at a true emergency fund level of 3-6 months, but further down our plan, we will save up to that level. But reaching #2 has given us new motivation to keep plowing away at our business and our Debt Freedom Plan.

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How I’m Managing our Family Budget during the Pandemic

Family Balance Sheet

I have written often about the importance of an emergency fund. How I’m managing our family budget during the Pandemic: We pay ourselves at the beginning of each month, so when this crisis started in mid-March, we were covered for the month. Update our Debt Freedom Plan to reflect lessons learned during this crisis.

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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. How much debt did you pay off? What kind of debt was it? We paid off about $110K worth of debt. 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? Where are you from?

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Find Out How Olivia & Her Husband Paid off Their Mortgage in 33 Months

Family Balance Sheet

Today’s Debt Free Story is from Olivia. Ryan is a high school math teacher and also officiates college basketball (November thru March). We are both planners and despise wasting money on debt/interest, which is what led us to pay off our mortgage as soon as we could! How much debt did you pay off?

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