Debt
Are You Committed? Really?
Friday, February 1st, 2008I went to lunch with a friend today. We met at Chipotle and chatted about the last few weeks. Of course, the subject of debt came up, because both he and I are in debt.
He asked me a few questions about my approach and what I’m doing to make progress. So I told him.
He also […]
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Bills That Are Okay to Pay Late
Tuesday, January 29th, 2008In your own debt reduction journey, you may discover that finances get tight occasionally. And during those times, it is helpful to know which bills are okay to pay late and which are not.
Let me say plainly that I believe you must make every effort to pay all your bills. If you have the financial […]
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Debt Bubble Reaches Critical Mass
Friday, January 25th, 2008Have you noticed how many debt blogs have sprung up in recent years? Have you noticed how many people are finally realizing that debts must someday be repaid?
This is indicative of the underlying problem, which is, simply put, too much debt. Just how much debt have Americans accumulated? Let’s take a look at the actual […]
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Buy Nothing New for a Year?
Saturday, January 19th, 2008If you suffer from a high debt load or a compulsion to spend money shopping, then perhaps you should try this:
Buy nothing new for an entire year.
I didn’t come up with this idea. Neither did Timothy Ferriss, but that’s where I learned about it. Essentially, 10 friends from San Francisco committed to buying nothing new […]
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Ignoring Problems
Wednesday, January 2nd, 2008When it comes to problems of any kind, our first instinct is to ignore them or run away from them. Truth is, we are not that much different from ostriches: we prefer to stick our heads in the ground.
This is why most people don’t want to face their debt problems. Their natural instinct is to […]
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Carnival of Debt Reduction #120 - Eleven Resolutions for 2008
Monday, December 31st, 2007Since today is New Year’s Eve, I am presenting the New Year’s Edition of the Carnival of Debt Reduction. I’ve written a New Year’s Resolution for each post. Perhaps one of these resolutions will become one of yours in 2008. Enjoy!
1. Pay Off Christmas Debt ASAP
(Editor’s Pick) Matthew Paulson presents How to Get Over a […]
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80/20 Debt Reduction
Wednesday, December 19th, 2007In examining my own debt, I apply the 80/20 Rule. This rule says that 20% of inputs create 80% of outputs. On the flip side, 80% of inputs create only 20% of outputs.
This rule is not always 80/20. Sometimes it is 95/10 or perhaps even more lopsided.
The point is that not all actions have equal […]
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Debt Is a Hole in the Ground
Tuesday, December 11th, 2007Debt is a hole in the ground, right smack in the middle of your backyard.
Your income is like sand running through an hourglass. Each grain that slips through must go to fill little holes (monthly bills). What’s left over can go toward filling up the big hole in your backyard. This takes time. Sometimes a […]
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The Chains of Imperial Debt
Monday, December 10th, 2007People in the U.S. have almost no hope of ever becoming debt free. Because debt isn’t only a personal matter. It’s a national issue as well. And America seems to think it can continue to spend money it doesn’t have for things it doesn’t need. After all, why not? the nation thinks. We can simply […]
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The Virtue of Pain
Sunday, December 9th, 2007A week and a half ago, I wrote about how in some cases you may want to pay down debt on multiple lines of credit to improve your credit score. With an improved credit score, you may be able to get better interest rates or take advantage of zero interest balance transfers.
While this approach is […]
Popularity: 5% [?]
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