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.

• Blogging Away Debt has posted Carnival #116 A big thank-you to Tricia from Blogging Away Debt (who is now halfway toward her debt payoff goal!) for hosting this week's Carnival of Debt Reduction. Her five favorites from this week's submissions: Cooking Money posted on the side effects of being in debt I've Paid for this Twice Already......
• The Carnival is up at No Debt Plan Holy financial crisis, Batman:  No Debt Plan has posted this week's Carnival of Debt Reduction!  The Treasury is taking on lots of debt these days but somehow they expect us to own up to ours!  The gall!  Anyway, he chose a couple of posts out of the submissions as his......

• 5 Ways to Stay Out of Debt When Unemployed The following guest post was submitted by Knight Hooson. Knight was born and educated in Canada before moving to Great Britain in 2002. Now based in London, he writes for The Credit Letter where he blogs about managing credit cards and personal finance. When not working, he enjoys learning about......
• Sunday Money Madness - Blog Action Day Edition Rich Credit Debt Loan is starting off the roundup by presenting the wonderful finance bloggers that have participated in Blog Action Day on October 15th, 2008. It's great to see so many out there contributing funds and writing towards the issue of poverty and increasing global awareness. Did you do......