Throwing extra money against your consumer debt is a very good thing to do.  (The credit card companies hope that you don’t do this, because it allows them to charge you interest for a really long period of time, sometimes over a decade.)

So if throwing extra money at your debt is good, throwing more extra money is better, right?  Yes, but up to a point.  If you throw every last spare dime you have at your debt, it drains your bank account, and you’re left with no cash if the car breaks down, if you have a debilitating toothache, if your roof springs a leak, etc.  You have no emergency fund, and out come the credit card again, with an increase in your balance soon following.

The moral:  Build up an emergency fund so that if you need to shell out $500 or $1,000 for an unexpected expense, you have it to spend.  Building this up will slow your debt reduction, but the peace of mind is worth it.

• Debt reduction tip: Freeze your accounts An overspender trying to reducing spending faces many of the same temptations as a fat person trying to lose weight.  Sticking to a cash-only or a debit-only budget after being able to charge freely on a credit card is difficult. Just like an overweight person would keep snacks out......
• Pi Day and the Ides of March: Carnival of Debt Reduction Here are some submitted articles on debt reduction: Jackie from Money Crush posted an article on the snowball method over at the Pay Off Debt App blog. Debt Donkey doesn't agree that the FICO score is the most important number in life as he gets rid of his debt. My......

• Money Merge Account Analysis Pt 6 If you have not yet done so, please read part 1, part 2, part 3, part 4, and part 5 of this series first, then read on. This week, I'll offer some of the exaggerated claims made by those who likely don't even understand what they are talking about. "......
• 10 Actions You Can Take To Avoid Credit Card Fraud Credit card fraud can easily be avoided with a bit of common sense and by being knowledgeable about the potential dangers in general. Unfortunately statistics have shown and continue to show us that fraud is on the up. Consumers have to face the realities of becoming a victim of fraud......