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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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Friday Links – Win an iPad Mini Edition

Prairie Eco-Thrifter

My friend Jackie over at The Debt Myth has created a Pay Off Debt App which I think is very cool. She has lived the journey of being sunken in debt and then freeing herself and now she is trying to help others do the same with her new app. Saving Money on Renovations. It really makes me happy.

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What Is A Home Equity Loan?

Savings Corner

Key takeaways A home equity loan allows you to borrow a lump sum against your home’s equity, usually at a fixed interest rate that’s lower than other forms of consumer debt. While high compared to their average of six percent in 2022, that’s significantly lower than other forms of consumer debt. What is a home equity loan?

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What Is A Personal Loan?

Savings Corner

Key takeaways A personal loan is money you can borrow to finance large purchases, consolidate debt, invest in yourself or cover emergency expenses. Working to improve your credit score and reduce your debt-to-income ratio before applying can help get you the best loan terms. Here are some of the most common applications.

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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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Start Planning and Budgeting for Summer TODAY!

Family Balance Sheet

Include everything from weekend trips to longer vacations, yard/garden projects, home renovations, kids’ camps, gear and clothing, and any other summer expense you might have. They’re all designed to help you save money, pay off debt, and achieve your financial goals, so please take advantage of them.

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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. Special Purchases – Have some fun with this spreadsheet and use it to plan for upcoming large expenses, such as vacations, home renovations, equipment, replacement, etc.

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