While I was working my way out of debt, I tried just about every method that I heard of to help me pay my debt down faster. Hands down, when I discovered the debt snowball method and the debt snowflake method, they made sense, but I just kept confusing them. The what? Snowball. Snowflake? Snowcone? All the same to me.
Get a comfy chair. You’re going to be here for a while. Pressed for time? Just get a secret link to download this entire thing plus four additional pages of information when you subscribe. You can read at your leisure. Yesterday after paying down one bill I crunched the numbers and realized that since January[…]
First, it’s about two o’clock in the morning and I’ve been struck by lightening. At this time in the morning I have very little filter left and the part of my brain that usually censors what I say is drifting to sleep. This is my way of apologizing up front. I’m going to stand by whatever I write after this paragraph, but if you’re sensitive and if you’re a blogger, you might need to turn away.
I’m a debt and frugality blogger. I hate to put myself into a box, but, it’s what I do and have been doing for nearly five years. At this point I have seen just about everything related to debt. I also read quite a lot. In fact, I might read too much because I sometimes suffer from analysis paralysis. […]
We have been going through the process of getting our finances in order so that we can get out of debt or be well on our way to being debt free in 2011. Your credit goes hand-in-hand with your debt, so we would be remiss if we forgot to pause at this point and see what’s going on with our credit profiles.
Your credit score can have a huge impact on your debt, because it ultimately determines the cost of borrowing money and your interest rates on your credit cards. The lower your score, the higher your interest rate, the more it will take to pay off your debts. But if your credit report has inaccuracies, your credit score can be negatively affected. This week we learn how to fix your credit report. It’s not rocket science, but to those of you who have never taken the time to look at your credit report, this will be helpful. […]
By now you’ve seen how much debt you owe and devised some sort of a budget. Is that working well for you?
If you’ve followed the jar method of budgeting, you should have had about two weeks of testing this method out. How’s it going? You should be able to project out and see if you will be able to stay within your spending limit for each category – if there are no emergencies.
I’ve found that the “miscellaneous” or “entertainment” jar is where money often disappears the fastest, leaving the savings jar empty or with a few pennies rattling around at the end of the month. Is that what you’ve experienced? If so, it’s fine. We are going to change that for you with today’s lesson. We are not going to restructure your entire debt, we’re just shaking things up a bit. […]
Last week was the introduction to my Get Out of Debt in 2012 course. We all resolved, together, to get on the path to debt freedom this year. I’m happy to report that many of you are already reducing your debt nicely. Some people are down to $400, some to $20,000 and some just have the lone house payment left. That’s awesome! But we had homework, and like any good lesson, it’s time to hand that homework in.
Your homework last week was to gather together all of your debts and write it down. As I mentioned, it can be hard to get a real perspective when you think of your debt in its parts and not as the sum total. We’ll actually end up breaking apart the debt in the future, but for now, you need to see the entire total together. It’s like gathering up all of cousins during the holidays. […]