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5 Lessons Learned When Our Finances Went Awry

Family Balance Sheet

Our small business was going well and we said so long to renting office space and purchased a commercial property. But in August 2013, our business softened, renovations to our new building were more costly than planned, and we were now the owners of two mortgages, our home and our business. Yep, life was good.

Finance 100
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Friday Links – Day Off Edition

Prairie Eco-Thrifter

If so, bookmark SFB’s post about How to Set Yourself Up To Be a Financial Success When Starting the First Job at Simple Finance Blog. Staring a home renovation? If so, don’t miss Mike’s post about the 5 Costly Mistakes Contractors Make When Starting a Home Remodel Project at Personal Finance Journey.

Fridays 167
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Friday Links – Long Weekend Edition

Prairie Eco-Thrifter

Don’t miss Melissa’s post at My Personal Finance Journey if you Think You’re Sacrificing to Pay Down Debt? If you’re looking to ramp up your investing efforts but aren’t sure how to due to inexperience, John from All Things Finance has a great post on Investing for Beginners: Newbie Mistakes to Watch Out For.

Fridays 187
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A Goal Without a Plan is Just a Wish

Family Balance Sheet

After renting an office for 12 years, we had nothing to show for it and the space was starting to feel a bit cramped. The building offered so much potential, but needed a lot of work and we set out to renovate our dream office. I manage the finances for our business and our family and by August 2013, I felt the weight of the situation.

Goals 100
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How our Debt Freedom Plan Prepared Us for the Pandemic

Family Balance Sheet

For many households, their finances and budgets are in limbo. My family’s finances have also been affected. As the Family Office Manager , I handle the day-to-day finances for our family and I needed a way to communicate our finances to my husband. Everything changed. I still use my spreadsheet to this day!

Debt 130
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How to Make Good Financial Decisions

Prairie Eco-Thrifter

If you decide that you should diversify your finances, you will need to figure out how (perhaps by choosing an asset allocation model), and then do transactions to make it happen. What To Consider When Deciding To Buy a Home Should You Invest In Renovations Or Purchase A New Home? Making good on your choice.

Making 240
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How We Paid off Six Figures of Debt

Family Balance Sheet

We had been renting for over 10 years and we were ready to find a property to move our business to and eventually build our net worth. Also, the monthly mortgage payment was less than our rent payment. Aside from the mortgage, we also added equipment and renovation loans with the purchase, and we had a student loan.

Debt 130