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Why You Should Be Skeptical of Financial “Rules of Thumb”

Prairie Eco-Thrifter

The rule of thumb that states that it makes sense to spend 30% of your income each month on a housing payment doesn’t take into account the fact that you might have other debts, and that taking on more might over-leverage you. And what happens when you add in property taxes, utility, home insurance, and maintenance?

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How We Paid off Six Figures of Debt

Family Balance Sheet

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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How to Start a Budget (and be successful at it!)

Family Balance Sheet

I came up with strategies to help us pay for yearly bills, large expenses, and we were able to pay off debts. Personal Escrow – Use this spreadsheet to plan for your high yearly expenses, such as property taxes, association fees, home/auto insurance, etc. During that time, I started to budget for everything.

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