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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

Our emergency fund. I am totally paraphrasing the year, but had it not been for the money in our emergency savings, we would most likely have used credit cards to survive. We reduced our spending where we could, but the money to pay any shortfall each month came from our emergency fund. It kept me up at night.

Debt 130
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5 Steps to CRUSH Debt + FREE Debt Payoff Goal Tracker

Family Balance Sheet

Being self-employed, we felt we needed more than Dave’s recommended $1000 starter emergency fund that he outlines in his book, so our first step was to save a bit more for our home and office. 3 – Set your guidelines for the year. This list became our personal Debt Freedom Plan.

Debt 130
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How to Conduct an Effective Family Financial Analysis

Prairie Eco-Thrifter

rise up during emergencies or unexpected occurrences. Take note that these guidelines would not work if you do not cooperate with one another. Plan for Financial Emergencies. Establishing emergency funds aids you in building up savings for unexpected expenses. plan for the future. become a smart consumer.

Family 196
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Our Big Financial Goal for 2016

Family Balance Sheet

Guidelines for 2016: 1. Fortunately we have an emergency fund and a personal escrow account for our yearly and quarterly expenses to keep us stable, but we do need to be diligent at staying within our budget. In other words, I’m coming up short. Fortunately, I’ve never met a goal I couldn’t handle.

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Our 2018 Financial Goals

Family Balance Sheet

The Guidelines for 2018: 1. However, we could use a year of extra thriftiness to find any extra funds to accelerate the $10k. Save a starter Home Emergency Fund. Dave Ramsey suggests to have a starter emergency fund of $1000 while focusing on paying off non-mortgage debt. Be Exceptionally Frugal.