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Rocket Finance has posted the Carnival!
A big thank-you to Rocket Finance for hosting this week’s Carnival of Debt Reduction! Two of this week’s submissions caught his eye:
- Not the Jet Set proclaims the frugal virtues of frozen pizza.
- The Digerati Life suggests ways to make 10 ordinary things last longer.
Enjoy the rest of this week’s articles at the Carnival! Next week DebtFree-Revolution hosts! (BlogCarnival.com says that the carnival is here next week but it’s actually over at DebtFree-Revolution; working through a technical glitch for the time being.)
Flashback: Work toward debt freedom
Wandering Indian Monk hosted Carnival of Debt Reduction #30, and this week’s Flashback from that Carnival comes from Cakes and Ale: Freedom from debt. How do you best use the money that you’ve set aside to pay down your debts?
- Don’t just shuffle the debt around. The balances have to go down, too.
- Recognize that you brought the debt on yourself and you have to get out of it yourself.
- Use little windfalls to pay down more debt instead of going on a shopping spree.
- Keep paying more than the minimum on your debts.
- Do all of this with a strategy so that you can monitor your progress.
Flashback: Cool it
Blueprint for Financial Prosperity hosted Carnival of Debt Reduction #25. This week’s Flashback comes to you from Birds and Bills: Frozen Assets. This is another Jedi Credit Trick designed to slow your purchasing down. If you have to wait for a card to melt from a block of ice, it gives you ample opportunity to consider why you’re trying to get at your plastic. The main question to ask is: “Do I need this item badly enough that I want to pay interest on it?“ If the answer is no, then the trick worked.
Flashback: Use a debt consolidation service?
Mighty Bargain Hunter hosted Carnival of Debt Reduction #24, and this week’s Flashback comes from a post by Blueprint for Financial Prosperity: What Do Debt Consolidation Services Offer?
Debt consolidation services are legitimate. They help you to simplify your debt reduction process by paying your creditors from one check that you give them. This costs money, though, and NCN, who’s gotten out of debt by himself, didn’t think that this was the way to do it. It’s more expensive, you lose a little control of your money, and you can do the same thing for free. And with all of the free resources on blogs like NCN’s, it makes even more sense to try to do it on your own.
Carnival of Debt Reduction
Thanks everyone for your patience with this week’s Carnival of Debt Reduction. Terry Lange over at From The Unknown has had bad problems accessing his blog. He’s given the good fight, and he’s passed on this week’s carnival here after putting it together. Thanks to Terry for putting this together! Here it goes …
There are never any bad questions, so we will start our carnival with a good question posed by Jen from Picture of Wealth
Jen presents How Truthful are YOU About Debt? The $40,000 Question. posted at Picture of Wealth.
We move from a question to a list.
Grace presents I’m Makin’ a List & Checkin’ it Twice posted at GRACEful Retirement.
We are also given a great reminder from the King of Debt:
King of Debt presents The Temptation Is Always There posted at We’re In Debt.
During the process, motivation and energy are the keys. Also Dave Ramsey has said that “debt reduction is 90% behavior modification”
FMF presents Get Organized, Get Energized, Get Out Of Debt posted at Free Money Finance.
John presents Almost Debt Free: Choosing the Best Emergency Savings Plan For You posted at Queercents.
Jeffrey Strain presents Credit Card Balance Transfer Offers - What To Look For posted at SavingAdvice.com Blog
David presents Pay Off Debt Or Invest - Well, It Depends. posted at My Two Dollars.
Eric Stanley presents Need a Money Making Idea? posted at Personal Finance Blog Articles.
And that’s it for this week! Next week Getting Green hosts!