Family Balance Sheet
MAY 6, 2020
How Our Debt Freedom Plan Prepared Us for the Pandemic. We’d survived the dip in 2007, carried no credit card debt, and we were contributing to our retirement. Our small business was going well, so we said so long to renting office space and purchased a commercial property in the summer of 2012. Our first storm: 2007.
Savings Corner
DECEMBER 27, 2023
What’s behind the numbers in our mortgage amortization calculator An amortization calculator enables you to take a snapshot of the interest and principal (the debt) paid in any month of the loan. In the beginning years, most of each payment goes toward interest and only a little goes to debt reduction.
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Savings Corner
DECEMBER 25, 2023
The mortgage payment calculator can give you a reality check on how much you can expect to pay each month, especially when considering all the costs, including taxes, insurance and private mortgage insurance. A lot of factors go into that assessment, and the main one is debt-to-income ratio. If you’re buying too much home.
Family Balance Sheet
APRIL 11, 2020
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. Update our Debt Freedom Plan to reflect lessons learned during this crisis.
Savings Corner
APRIL 4, 2024
While you can’t cash out all of your home’s equity, the process gives you access to a larger sum of money without needing to sell your home. You can use this money for any purpose, including home remodeling , consolidating higher-interest debt , college tuition and other financial needs. That means you have $300,000 in equity.
Family Balance Sheet
DECEMBER 29, 2020
Years ago, there was a month where I hadn’t planned on a large property tax bill and I wasn’t sure where we were going to find the money. Personal Escrow – Use this spreadsheet to plan for your high yearly expenses, such as property taxes, association fees, insurance, etc.
Savings Corner
APRIL 4, 2024
The money you tap from your home’s equity can be used to consolidate higher-interest debt or to improve your home. Homeowners who have improved their credit score or lowered their debt-to-income ratio, for example, might be eligible for a better rate today if they refinance. Ideally, you’ll also get a lower rate in the process.
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