Penny Pinchin' Mom

DECEMBER 17, 2023

The post The Age Old Question: Should You Pay Off Debt or Save? Should you pay off debt or save? So, you want to get started on debt repayment so you can focus on other financial goals? However, if you pay off these debts, there will be nothing left for investments in these tough financial times.

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Pay Off Debt Debt Emergency Fund Financial Goals 52

Family Balance Sheet

FEBRUARY 16, 2016

Our emergency fund has saved us countless times and it will save us once again with the truck. If you can’t answer with the word, CASH , then please, set yourself up for success and build your emergency fund. Follow these three action steps and the list of ideas below to find the cash for your fund.

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Emergency Fund Money Finds Friends And Family Sale 100

Family Balance Sheet

NOVEMBER 5, 2014

Welcome to Debt Free Stories. How much debt did you pay off? What kind of debt was it? The debt consisted of my student loans and a car loan. What inspired you to get debt free? When my wife and I got married, we both made the decision that our first financial priority would be becoming debt free.

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Debt Free Debt Emergency Fund Finance 241

Family Balance Sheet

OCTOBER 13, 2014

We’ll talk about cash flow, budgets, debts, and all of the nitty gritty of our finances that might not be fun to talk about, but are so important to discuss. Last year, our van needed 4 new tires to pass its state inspection and our 13 year old dryer stopped working. That fund was a life saver, a sanity saver and a marriage saver.

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Emergency Fund Finance Organic Organization 100

Family Balance Sheet

OCTOBER 18, 2019

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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Debt 2019 Financial Goals Emergency Fund 100

Family Balance Sheet

SEPTEMBER 9, 2014

Welcome to Debt Free Stories. She and her husband paid off $147,000 in debt–including their home. After paying off the debt, she was able to quit her job to pursue her passion. She blogs at The Debt Myth. Quitting my job is one of the things being debt free has enabled us to do. How much debt did you pay off?

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Debt Debt Free Pay Off Debt Financial Goals 236

Motherhood Moments

JANUARY 18, 2023

Nobody knows for sure whether we’ll see a recession or not,” said Amy Maliga, financial educator with Take Charge America, a nonprofit credit counseling and debt management agency. An emergency fund is vital regardless of the larger economic climate. Prepare by paying off debt. Prepare for the unexpected.

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Recession Finance Emergency Fund Debt 100

Family Balance Sheet

MARCH 19, 2014

Prior to FPU, we thought we were doing well financially and never considered that we had too much debt. We didn’t have credit card debt, we paid off our car notes early, and the interest rate on the student loan was at a low 2.75%, so we thought we were doing okay. But Dave Ramsey’s view of debt is very different.

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Debt Money Emergency Fund Goals 100

Family Balance Sheet

SEPTEMBER 29, 2016

I watched her and her husband’s debt free scream on The Dave Ramsey Show. You can find Angela at her You Tube channel, Our Life…on a Budget , where she vlogs about getting out of debt and staying there! Angela & Jeff’s Debt Free Story. How much debt did you pay off? What kind of debt was it?

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Prairie Eco-Thrifter

SEPTEMBER 13, 2011

Living your dream life debt free requires a simply task of going back to Grade 1 math lessons and applying the concepts. Likewise, in your adult life, you can think of the first number representing the source of your monthly income and the second depicting debt or expenses – you need to borrow from another in order to complete the operation.

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Debt Free Debt Emergency Fund Hobby 235

Penny Pinchin' Mom

DECEMBER 17, 2023

Create an Emergency Fund Let’s talk personal finances— $8,883 —that’s how much American households have in terms of emergency funds on average. The ideal scenario is that your emergency fund should look to cover at least six months of all your monthly household expenses should you suddenly lose your income.

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Finance Tips Finance Emergency Fund Life Insurance 52

Family Balance Sheet

JANUARY 21, 2015

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? Funny how that works.

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Debt Debt Free Las Vegas Finance 100

Family Balance Sheet

APRIL 11, 2020

I have written often about the importance of an emergency fund. We paid off our last non-mortgage debt in September and have since sent that loan’s monthly payment to our mortgage principal. We just finished paying off our non-mortgage debts and now we were considering taking out a car loan. Cash is King.

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Budgeting Budget Family Debt 246

Family Balance Sheet

JUNE 11, 2014

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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Debt Emergency Fund Financial Goals Motivation 100

Prairie Eco-Thrifter

JULY 10, 2014

My solution to this problem is to create a spending plan that actually works for me. Would you feel a weight lifted if you could pay off your high-rate consumer debt? Money is automatically deposited into the retirement and emergency fund accounts, as well as to my son’s 529. What matters most to you? must be paid.

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Budgeting Budget Work Making 218

Prairie Eco-Thrifter

JANUARY 10, 2013

I have started a new job at work which is great but also very overwhelming as I still need to keep up doing my old job until my replacement is hired and trained. Working to build your emergency fund? Read up on emergency fund basics at Money Smart Guides. Hi everyone. This week has been crazy for me.

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Family Balance Sheet

AUGUST 11, 2016

You work until you are 65 and then retire. Work for the same company for 35+ years. Another friend chimed in, “we’ll never stop working, retirement isn’t possible.” We charted out our course of action to pay off debts and start saving for retirement. Start Saving for your Emergency Fund TODAY!

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Family Balance Sheet

JUNE 30, 2015

At the time, I wasn’t sure how we were going to pay our monthly bills, so future plans like funding our retirement , our daughters’ college education, or a lavish vacation were not on my mind. 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.

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Financial Goals Debt Goals Emergency Fund 100

Prairie Eco-Thrifter

JANUARY 1, 2013

Lack of An Emergency Fund . One of the most common disastrous finance mistakes is not having any sort of financial back-up for emergencies. How long could you manage if you were out of work, based on your current financial situation? Make an allowance for a small amount of savings, in addition to your emergency fund.

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Emergency Fund Credit Cards Personal Finance Finance 272

Family Balance Sheet

OCTOBER 18, 2014

We’ll talk about cash flow, budgets, debts, and all of the nitty gritty of our finances that might not be fun to talk about, but are so important to discuss. Please catch up on all of the assignments this weekend, because you will need all of that work to help you create your monthly spending plan. Day 13: Create an Emergency Fund.

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Finance Organic Organization Emergency Fund 124

Prairie Eco-Thrifter

MAY 30, 2012

Increasing your credit card limit is really increasing your debt, or at least your exposure to debt, so say ’No!’ Not Having an Emergency Fund It is dangerous to spend every cent you earn and not to have buffer against illness, injury, job loss or hard economic times. Make establishing an emergency fund a priority.

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Money Emergency Fund Debt Financial Goals 235

Family Balance Sheet

JANUARY 20, 2017

I love her passion for helping others along their debt free journey. Krystal & Josh’s Debt Free Story. works in outbound sales, and I teach part-time. We have a huge heart for missions work. How much debt did you pay off? What kind of debt was it? We are debt. debts one by one.

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Penny Pinchin' Mom

JANUARY 16, 2024

However, if you have been following me, you know that I am quite serious about finding ways to not only get out of debt but also how to create a budget (and stick to it) as well as how to save money without necessarily depriving your family of the quality of life they deserve. Again, you’re not alone with this problem.

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Personal Finance Finance Tips Finance Mom 52

Family Balance Sheet

FEBRUARY 4, 2015

Today’s Debt Free Story is from Shannon. He now works as an architect, and I do some freelance from home now that we have kids. How much debt did you pay off? What kind of debt was it? As many students do these days, we had tens of thousands of dollars of debt by the time we graduated with our Masters degrees.

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Debt Free Debt Financial Goals Budgeting 100

Family Balance Sheet

FEBRUARY 2, 2017

They pay off mountains of debt and scream about debt freedom, or maybe they save gobs of money in a record amount of time, or they have considerable success with their new small business. Meet The Achievers: Deacon and his wife paid off $52,000 in debt in 18 months. They’re still working on developing their goals for 2017.

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Financial Goals Goals Debt Budgeting 100

Prairie Eco-Thrifter

JULY 22, 2014

When I worked as a singer on a cruise ship, I made more money than I ever had before. Unfortunately, the work environment was unbearable, namely the constant sexual harassment from guests and officers. Rather than wasting time being overcome by anxiety, I get to work. That was as “monetarily made” as I ever had it.

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Money Unemployment Emergency Fund Couch 219

Family Balance Sheet

JANUARY 26, 2016

As God is my witness, it WILL be the year that we pay off the last of our non-mortgage debt. That was the month I didn’t know if we had enough funds to cover our expenses. Thankfully, we have worked through those trials and the experience actually made a positive impact on our finances. Apply any Found Money to Debt.

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Financial Goals Goals 2016 Debt 100

Saving In Akron

MARCH 9, 2011

Get home, have to take hubby to work. Had to work today so I worked at my real job until 4 when my daughter gets home. Sit down at 11:00 PM to work on this blog after all that. I did not go into debt for this vehicle. This all goes back to having an emergency fund and paying yourself first.

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Prairie Eco-Thrifter

SEPTEMBER 4, 2011

Take note that these guidelines would not work if you do not cooperate with one another. Many people are still trapped in debts and financial insufficiency due to the wrong formula or mindset they’ve been following ever since they got employed. Get Out of Debt. Debt; a simple four-letter word but deadly. Are you ready?

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Family Financial Goals Debt Goals 196

Prairie Eco-Thrifter

APRIL 3, 2014

After realizing a financial mistake, like miscalculating a debt or failing to plan for a bill, and then beating yourself up on top of that financial stress, you’ll probably want to do something to make yourself feel better. Now that you know what doesn’t work, it’s time to figure out what does. Placating Through Spending.

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Emergency Fund Debt Bills Money 218

Prairie Eco-Thrifter

JULY 4, 2011

They are also there working with you to help you reach your goals; even those financial goals. Philip from Deliver Away Debt shares his story: How I Delivered Away My Debt. mbhunter from Mighty Bargain Hunter asks Are you contributing to this debt clock? Andy from Saving to Invest discusses Happiness in Life and Work.

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Personal Finance Finance Family Debt 240

Prairie Eco-Thrifter

MAY 27, 2012

Like I state on my About page , I was in debt and living a life that didn’t satisfy me. Statistics show that nearly one in two Americans are in serious financial problems due to their debt levels. Also include an emergency fund and contributions to a retirement account, even if just small amounts at first.

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Emergency Fund Credit Cards Budgeting Budget 212

Prairie Eco-Thrifter

AUGUST 10, 2014

“If you have someone who relies on you for financial support, or if you have outstanding debts and don’t want to leave your family with that debt, you need life insurance.” It’s also important to take stock of your work situation and consider disability insurance. What About Self Insurance?

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Insurance Life Insurance Health Insurance United States 193

Family Balance Sheet

JANUARY 1, 2015

Most of them are related to our small business, my husband’s chiropractic office, but last January I got a bee in my bonnet about debt…thank you, Dave Ramsey. I tricked …nudged my husband into following along and together we wrote out our Debt Freedom Plan. Although it will take hard work and sacrifice on our part.

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2015 Money Debt Home and Garden 100

Family Balance Sheet

JUNE 22, 2020

It was so big that I cried for two days straight– we paid off six figures in non-mortgage debts. 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. After the first year, the new business debt weighed on me.

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Debt Health Insurance Insurance Budgeting 130

Family Balance Sheet

JANUARY 3, 2012

We are still working through some numbers and there might be some adjustments in the timelines we have given ourselves, but these are our financial priorities for 2012. Increase our Monthly Debt Payment. We have set a goal date of July 2015 to pay off all of our debt. Increase Family Emergency Fund to Six Months Salary.

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Financial Goals Goals 2012 Emergency Fund 127

Prairie Eco-Thrifter

OCTOBER 15, 2011

Good Financial Cents: What to Watch For With Debt Settlement Companies Considering using a debt settlement company? Here’s some tips to be wary of when trying to consolidate your debt. Personal Finance Whiz : What Is An Emergency Fund? Why Do You Need One and How Does it Work?

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