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Carnival of Personal Finance #316- Family Edition

Prairie Eco-Thrifter

mbhunter from Mighty Bargain Hunter asks Are you contributing to this debt clock? Watch out! , and says, “The big debt clock is over $14 trillion now, but this other one is approaching $1 trillion, and may affect you more directly.&#. Pat S from compounding returns asks Pay Off Debt or Invest for The Future ?

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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. Read: How We Watch Great TV without Cable. Living a life focused on paying off debt is not always easy.

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Meet Carrie. She Paid Off $14,000 in Debt in 14 Months.

Family Balance Sheet

I could barely afford my $600 rent payment, which was in a horrible neighborhood. It was like 40 feet away from me and I watched the entire thing. I would offer to do people’s taxes, or get their bookkeeping organized in exchange for a discount on my rent, or a small repair on my car. Who initiated the debt free goal?

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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. This could be your rent/mortgage, utilities, loan payments, anything that has a due date. Necessary expenses could be: – Home: Mortgage/rent, utilities, insurance, taxes, necessary repairs.

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