Archive for the ‘Debt’ Category

The Reason You’re Not Out of Debt Yet

Imagine your friend comes to you for advice. He has a ton of consumer debt, and asks you to tell him ONE THING that he needs to know. That’s all he has time for: ONE THING. What would you tell him?   Would you tell him about the debt snowball method? Or maybe you’d advise […]

5 Reasons You Shouldn’t Get Out of Debt and 1 Reason You Should

I’ve been reading a lot about the psychology of money and why we spend the way we do.  It’s a fascinating subject that has led me to think about the reasons we got into the debt problem we’re in – and the reasons we want to get out of it now.  I’ve identified a few […]

Man Vs. Debt: How Far Would You Go to Get Out of Debt?

While doing some “get out of debt” research the other day, I stumbled on this site. Started by a guy named Adam Baker, he and his family have publicized their credit card debt (and payments) as well as all of the possessions they own in an effort to motivate people to, according to his website, […]

Numbers Update

Updated the thermometer to reflect our payments being made today.   The Good News We managed to save over $1000 and make a settlement payment of over $1000 – all in the last 45 days!   The Bad News One late fee and interest fees on one card made our “minimum payment” completely ineffective.   […]

How to Pay Off Debt: Increase Income or Decrease Expenses?


Planning to be in Debt

  “This isn’t what I had planned.”   Ever said that? Ever heard a friend say it? I’m not a saving money expert, but I have learned one thing: that sentence is not true.   Our family chose to be in debt.  We decided to spend more money than we actually had.  And we opted to deal with […]

Quick Fact

“In the 2nd quarter of 2011, Americans amassed $18.4 billion in credit card debt (up 368% from 2 yrs ago!) – CardHub” via RamseyShow on Twitter

Spending Money on Purpose

Last week I linked to a Wise Bread article listing the Best and Worst Things to Buy in December.  Since I posted that article, I’ve been thinking a lot about spending. While I’m trying to reduce my debt, the main focus has been on decreasing my spending. That’s logical. Very quickly, however, “decreasing my spending” […]

“Hunger and Poverty in America” 60 Minutes Segment

A friend told me about this 60 Minute segment dealing with Hunger and Poverty in the midst of this hard economic time.  (This video was March 2011.) Here are some statistics they presented: “Poverty” is considered a family of four making less than $22,000/year. Currently, an estimated 25% of children are included in this statistic. […]

Get Out of Debt According to Google

“Get out of debt” and “lose weight” are two of the most commonly searched phrases on Google.  What does that say about American culture? Here’s a few other interesting things I found doing some research on Google.  Compare the results for these search phrases: “get out of debt fast”:       7.140.000 searches “get […]

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