Savvy Saver hosted Carnival of Debt Reduction #35, and this week’s flashback comes from Debt Sense: Once the bad debt’s gone, then what?

What a great question to ask!

It’s so easy to get immersed in the debt reduction swing of things that once the debt is gone and there’s all of this cash floating around where there once wasn’t, it’s a bit of a shock to have the burden lifted. Now, it’s a very good shock to have, but having a plan for the money that was consumed with credit card repayment is key to staying back on track.

The snowball method of debt reduction works wonders, but the snowball is biggest at the end, and needs to be actively controlled or it will just go up the hill, come back down, and roll over you. There’s a lot of free cash flow that needs to be controlled. Formulating a saving plan, setting up extra roadblocks to avoid missteping into credit card debt, and just not going nuts with the shopping to celebrate go a long way to accomplishing this.

• Flashback: Cut your expenses a bit Free Money Finance hosted Carnival of Debt Reduction #33, and this week's Flashback comes from Debt Sense: Cutting Expenses. In order to make extra payments toward credit card balance it helps to find places to cut expenses. Here are six places that Debt Sense suggests: Move to a less-expensive apartment.......
• Prime Time Money has posted Carnival #140 Prime Time Money posted a circus day Carnival of Debt Reduction for this week! He had quite a few Editor's Picks: Free From Broke doesn't think credit card debt should weigh you down. My Two Dollars serves up ten quick and easy ways to reduce your debt. The Happy Rock......

• Get Rid Of Your Credit Card Debts Credit card debt consolidation is a quite effective option of eliminating your credit card debts. Getting into credit card debt is really harmful for your credit score. It is even worse if you let it accumulate. At present, an average American household carries credit card debts of over $8,000 which......
• 6 Financial Decisions - Don't Learn The Hard Way Photograph: Learning The Hard Way by Alex @ Faraway This article is part of an M-Network group writing project. We are all writing articles revealing our best and worst financial decisions. See the end of this article for links to other M-Network member articles! I've made a number of......