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.

• 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......
• Flashback: Credit card condoms? Hey, whatever it takes! ~Dawn over at Frugal For Life hosted Carnival of Debt Reduction #9.  One post from Personal Finance Advice from that carnival I remember if for no other reason than the name: Credit card condoms The premise in creating a prophylactic to fit over your credit card is to make you......

• credit card debt is not pandemic You might think that America is being crippled by consumer debt. It is not. "The majority of U.S. households have no credit card debt. About a quarter have no credit cards, and an additional 30 percent of households pay off their balances every month. (Source: Federal Reserve)" I certainly do......
• Money principles from the church bulletin Our church bulletin this week had a bulletin from Focus on the Family. The bulletin contained some money principles from a Christian perspective:Debt can sentence you to a lower standard of living in the future.  Quite true: if you pay off only the minimum balance on your credit card, you......