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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. We’d survived the dip in 2007, carried no credit card debt, and we were contributing to our retirement. Storm #2: 2013.

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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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Where we found money in March 2021

Family Balance Sheet

I have used the extra money to pay off debt, fund family trips, or build up our Christmas savings. Was I as successful in March… My total of found money in March: $747. …No, unfortunately, March was not as good, however, $747 isn’t awful either. Where did you find extra money in March?

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Meet Krista & Jon Who Paid Off $36,000 | Debt Free Stories

Family Balance Sheet

Welcome to Debt Free Stories! They paid off $36,000 in debt and cash flowed graduate school. How much debt did you pay off? What kind of debt was it? After graduating with our bachelor’s degrees Jon and I had about $36,000 in debt between us. What inspired you to get debt free? They blog at 2 Copper Coins.

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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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Create a Plan to Eliminate Your Debt | 31 Days to Organize Your Finances

Family Balance Sheet

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. For years, my husband and I didn’t consider OUR debts to be wrong. To us, debt was a necessary evil. Today’s assignment: Create a Plan to Eliminate Your 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. But reaching #2 has given us new motivation to keep plowing away at our business and our Debt Freedom Plan. We adapted Dave Ramsey’s 7 baby steps to reflect our lifestyle as self-employed small business owners. What financial goals are you working towards?

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