Create your debt freedom plan

Family Balance Sheet

Stressed out, we ventured into Dave Ramsey’s online Financial Peace University home course for help. We also didn’t feel comfortable with Dave’s suggestion of a $1000 starter emergency fund, which is his step #1. Increase business emergency savings.

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2019 Debt Freedom Plan Update

Family Balance Sheet

To ease my anxiety about our new loans, we took the Financial Peace University home course and it changed how we thought about debt. We were mentally exhausted from the previous few years with paying off debts and medical bills, but in January 2019, I could see the home stretch and felt really comfortable that we could have this last non-mortgage loan paid off by the end of the year. 1 – Save a starter Home Emergency Fund.

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The Danger In Assuming

Prairie Eco-Thrifter

I keep a healthily funded emergency account at all times. To buy a home under the assumption that you’ll some day make a profit from it or rely on one source of income assuming it’ll always be available to you is financially foolish. Assumption #4: You’ll never have an emergency. Emergencies happen…to everyone. They can come in the form of a health scare a home repair or otherwise. Emergency or otherwise, unexpected expenses arise all the time.

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