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Create your debt freedom plan

Family Balance Sheet

We also didn’t feel comfortable with Dave’s suggestion of a $1000 starter emergency fund, which is his step #1. The point of the starter emergency fund is to get you through until you pay off your non-mortgage debts, at which point, you build a more extensive fund. Cash flow a FAMILY TRIP TO HAWAII.

Debt 130
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My Life Plan

Family Balance Sheet

Increase our emergency fund to 6 months of expenses. Contribute to our retirement funds. Celebrate debt freedom with a big family trip to Hawaii or Paris. Our Financial Goals: Pay off our non-mortgage debt. Celebrate with a trip to Walt Disney World. Start saving for college. Pay off our mortgage debt.

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Our Debt Freedom Plan | Marriage & Money

Family Balance Sheet

Save $$$ Home Emergency Fund – Dave suggests to start at $1000, but being self-employed, ours is much higher, but it is not quite 3-6 months of expenses. Increase our emergency funds for the home & office to 3 – 6 months worth of expenses. Cash flow a FAMILY TRIP TO HAWAII. Our Debt Freedom Plan.

Debt 100
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How to Achieve Your Financial Goals (tips from the achievers)

Family Balance Sheet

They took it one step at a time though, first by building up emergency funds as quickly as possible, then by paying off the credit cards and committing to no new debt. We plan on taking a family trip to Disney when we pay off our non-mortgage debt and a trip to Hawaii when we pay off our mortgage. Save for emergencies.