Consumerism Commentary hosted Carnival of Debt Reduction #20, and this week’s Flashback comes from Wealth Junkie: Do You Experience Paycheck Paralysis?  I can imagine it’s really tough to watch the majority of your paycheck go towards your current obligations — and maybe toward principal and interest on purchases that you made years ago and no longer even use.  That’s paycheck paralysis, and it’s disheartening.  Wealth Junkie gives the following advice: minimize your monthly expenses, don’t buy everything all at once, and pay bills on time.  That’s keeping at it, plain and simple.  They’re straightforward, if not easy, things to do on the way out of debt.

• Flashback: Work your debt reduction plan Waaaaaay back in Carnival of Debt Reduction #1, No Credit Needed was still in debt. His post for the premiere installment outlined his debt reduction strategies. His strategies were pretty simple: Collect your debt information and list the balances, annual percentage rates (APRs), and minimum payments. Go through your budget......
• Smart ways to reduce credit card debt (This guest post is presented courtesy of Debt Consolidation Care.) Often, you take many credit cards in order to maintain a certain standard of living. But the problem arises when you can't repay of the loans. The creditors start calling you time and again. Your credit score gets reduced. Therefore,......

• U.S. Economy sheds 85,000 Jobs in December [/caption] By PETER S. GOODMAN Published: January 8, 2010 NY Times The American economy lost another 85,000 jobs in December, and the unemployment rate held steady at 10 percent, tempering hopes for a swift and sustained recovery from the Great Recession. The monthly report included a revision in November that......
• USA - The Land of Deadbeats? The Wall Street Journal had an article advising homeowners who were upside down on their mortgage to just throw in the towel and walk away from their mortgage. Here's the abridged version: Millions of Americans are now deeply underwater on their mortgage. If you're among them, you need to stop......