Welcome to this week’s Carnival of Debt Reduction! This week we have a bit of an Olympic medal theme. Four of my favorite posts (gold medals) are at the top, and this week I’m highlighting first a couple of folks who are actively reducing their debt and doing a bang-up job at it. That was the main reason I started the Carnival: to bring attention to people reducing their debt and to provide a forum for encouragement. Please first stop by My Daily Dollars and Debt Reduction Formula to congratulate them on their progress this far!
Remember: The color of the medal doesn’t matter that much because the posts made it into the Carnival! These posts were all winners this week.
GOLD MEDALS: Here are my four favorites for this week:
- My Daily Dollars discusses her "A-ha!" moment during debt reduction. Getting to the point where it finally clicks why carrying balances is so bad is a big step toward getting rid of that debt.
- Debt Reduction Formula knocked off over $5k in debt in the last thirty days. That’s fantastic!
- No Credit Needed reveals ten great things about being debt-free. (Oh, and did you know that the No Credit Needed Network is opening again to new members?)
- Tough Money Love launches an involved discussion of the future tax benefits of a paid-off mortgage.
SILVER MEDALS: The best of the rest of the debt reduction related posts:
- The Road to Black advises just saying "no" to credit cards.
- Free Money Finance hosts a guest post on the first step to getting out of debt.
- Budgets Are Sexy enlists the help of a linked checking account to avoid more overdraft fees as he reduces his debt.
- Economic Forecasts gives a number of tip on how to improve your credit rating. (Also provided were ways to reduce debt during the credit crunch.)
- Destroy Debt discusses debt management companies.
- The Money Answer Guy lists a number of ways to avoid getting hit with credit card charges.
- Personal Finance Analyst discusses the potential benefits of a credit card bill of rights.
- Ask Mr. Credit Card explains what to do if your credit card debt has been charged off.
BRONZE MEDALS: A few selected ancillary-topic posts that could help with debt reduction:
- Digerati Life wonders about the possibility of going a year without buying anything new.
- Rich Credit Debt Loan gives advice on how to not nickel and dime yourself to the poorhouse.
- Savings Toolbox lists tips on choosing the right online savings account.
- American Consumer News talks about implementing an emergency fund.
- Discover Debt Freedom shows how to supersize your savings account.
No Credit Needed will host next week! (And eventually NBC will cease being the Michael Phelps channel!) 😉