http://www.destroydebt.com/blogs/ Destroy Debt Blogs www.destroydebt.com Thu, 01 Jan 2009 07:52:24 GMT webmaster@destroydebt.com webmaster@destroydebt.com http://www.destroydebt.com/blogs/debbie/362-financial-new-year-resolutions.html http://www.destroydebt.com/blogs/debbie/362-financial-new-year-resolutions.html Thu, 01 Jan 2009 07:52:24 GMT Happy New Year!  I’m writing this while sitting on a train on my way to visit my business partners in Pennsylvania.  It is my first experience using the rail for travel and I have to say it’s quite the affordable and comfortable way to go long distances!  The only issue I’ve had on my...
I absolutely the “new year”.  It’s just the perfect time to reflect on what you’ve done so far and what you’re about to do with your life.  It’s an opportunity to make changes and improvements in your life.  If you’re in debt, as many of us are these days, when would there be a better time to resolve to get OUT of debt?  As you’re making your new year’s resolutions to lose weight, get a new job, become famous or whatever you plan to do this year – why not develop your financial goals for 2009, as well?

Here are some tips to creating a financial new year resolution:

Automatic Savings Plans

The most common piece of advice people will give you regarding your finances is to pay yourself first.  For years I fought against this with the excuse that I wasn’t making enough money to pay all of my bills, how in the world could I ever put any money into savings?

The trick is to save consistently, even if it’s not a lot.  So if you feel like you live paycheck to paycheck and don’t make enough money, set aside $2 a week, or some other trivial amount, and I guarantee you won’t miss it.  As you are able, increase the amount you save .

Debt Reduction Plan

The best way to get into debt is to have no plan regarding your finances.  No budget, no goals .  The best way to STAY in debt is to live without a budget and expect your money will manage itself.  If you have debt and are ready to get rid of it, you need to have a plan. 

-do it yourself debt reduction plan

-pyramid

-debt consolidation

-debt management companies

Money Management

The final piece of your financial new year resolution should be an ongoing money management plan.  A money management plan is basically a budget, only it sounds nicer!  When you’ve worked out your debt repayment plan, start thinking about what to do with the rest of your money.  If you have more income than you require to pay your bills, pay more on debt and set some aside to save or invest.  Have a plan in mind for what you will do when you receive any unexpected money, to prevent blowing it or letting it get absorbed into your regular money.

Good luck with your financial goals!]]> http://www.destroydebt.com/blogs/helpmepayoffmydebt/361-how-i-made-13975-in-10-minutes.html http://www.destroydebt.com/blogs/helpmepayoffmydebt/361-how-i-made-13975-in-10-minutes.html Wed, 31 Dec 2008 09:57:37 GMT I apologize for the misleading title, but I must let it be known!  I have taken back my PlayStation 2 Bundle.  The PS2, 6 games, DVD remote, and "21" movie is all back under the custodianship of Toys 'R' Us.  While this saddens me, it is the easiest money I have ever made.  D...
I have taken back my PlayStation 2 Bundle.  The PS2, 6 games, DVD remote, and "21" movie is all back under the custodianship of Toys 'R' Us.  While this saddens me, it is the easiest money I have ever made. 

Did I need a gaming console?  No! 

I have a PC, and I can use that to play the games I already own (as well as those addicting casual browser-based games). 

My current problem, however, is that I want a new TV!  It seems that everyone of my friends purchased a new one this Christmas.  I mean, who could blame them?  The TVs at Circuit City were basically a fire sale (the CCs stores around here were being shut down, so 40% - 60% off the final week!) 

The biggest challenge I am having is, I am a techno-geek.  I am realizing how hard it is to be conservative with the cash, but very much an inner gadget-geek. 

Sit back and envision this with me.  A 42 inch HDTV connected to a PC!  You could be lying on the coach with a wireless keyboard surfing the internet on your living room PC.  Oh, and by the way, that show that is on your television.  Yeah, it is being streamed via the internet!

I want to do that!  ...but, I don't want to pay for it. ]]> http://www.destroydebt.com/blogs/samfinancial/345-debt.html http://www.destroydebt.com/blogs/samfinancial/345-debt.html Mon, 29 Dec 2008 03:50:15 GMT Debt is the money you owed. Many people will think that debt is bad and have cause many to bankrupt. If debt is bad, then why most of the organisation is having debt on their financial statement? The truth is, if you know how to make use of debt, then its a good debt. If you borrow money just f...
The truth is, if you know how to make use of debt, then its a good debt. If you borrow money just for spending or gambling, then its a bad debt.

Company borrow money from banks that charges interest but the company in turn use this debt to earn more than the interest charged by the bank. That is why its a good debt.

I have many friends who is having debt due to gambling and over-spending.

Gambling for leisure like playing mahjong for small bets with friends and family occasionally is fine and I am sure you won't end up in debt for this. Buying little bit of lottery to try your luck is fine as well.

So how did my friend ended up in debt? That is because they will spend their weekend staying over night to play mahjong and the bets is big. Sometime when they don't have money to pay, they will start to give excuse and the debts start here.

Shopping for necessity is also healthy as it will make you look fresh in your new clothes and make-up and accessories. But buying what you don't need is a waste of money. The worst will be buying with other people money because you have not get your paycheck yet. That is when you use your credit card to pay for stuff you don't have money to pay for. Beware of the interest rate that you got to pay if you don't pay in full for the month.

I am not saying credit card is bad, as I like to use credit card very much as it give me petrol and dining discount, it will give me a monthly statement on what I have spend on. It will give you rewards point that can be exchange for shopping vouchers.

So my advise is: Don't Gamble and Don't Spend unnecessarily.]]> http://www.destroydebt.com/blogs/helpmepayoffmydebt/342-how-was-your-christmas-spending.html http://www.destroydebt.com/blogs/helpmepayoffmydebt/342-how-was-your-christmas-spending.html Wed, 24 Dec 2008 01:15:13 GMT It is Christmas Eve and I am staring at a brand new unwrapped gaming console.  This said console comes at a great price for what comes with it!  There is a DVD remote, several games (movie tie-ins and a racing game, nothing AAA), and a free movie (21, comes with a money clip!  oddly...
This said console comes at a great price for what comes with it!  There is a DVD remote, several games (movie tie-ins and a racing game, nothing AAA), and a free movie (21, comes with a money clip!  oddly in-appropriate given the website you are reading this on!).  The cost?  The extras were all free!  That is right, purchase the console and get all the extras for free!

It turns out that it was a deal from the day after Thanksgiving that never got removed from the system.  I win, right? 

That is where the dilemma is.  Do I really?  Is this bundle package really worth it?  I mean, yes, it was supposed to be my Christmas gift to myself.  But, what if instead I buy 1.25% of my car?  That $16,000 isn't going to pay itself!

My justification in purchasing this thing was, it is a great entertainment value!  I can watch movies on it (without getting up thanks to the DVD remote!), I already have another movie to watch, and it comes with some games to play. 

And yet it sits there unopened.

I have a few PC games that have been occupying my spare time (all pre-debt free phase, and are unsellable).  I have also started looking deeper into what hobbies I want to have.  I didn't realize until just recently.  I have no hobbies (anyone have a suggestion?)

Anyway, I am single, and I have to work Friday so I will not be going back and seeing the family until this weekend.  If I make it until then without opening it, I am going to take it back. 

Christmas might be a really long day with this thing staring at me.  Cross your fingers and wish me luck!]]> http://www.destroydebt.com/blogs/helpmepayoffmydebt/340-today-i-begin-a-new-diary.html http://www.destroydebt.com/blogs/helpmepayoffmydebt/340-today-i-begin-a-new-diary.html Mon, 22 Dec 2008 01:02:50 GMT Many things have changed over the past few years.  I graduated high school in 2003, and spent a year working a factory job before heading to college.  In 2006, I graduated with an Associate's Degree and got a job as a mainframe programmer. In 2008, I am being told that the world is ca...
I graduated high school in 2003, and spent a year working a factory job before heading to college. 

In 2006, I graduated with an Associate's Degree and got a job as a mainframe programmer.

In 2008, I am being told that the world is caving in and my investments will be worthless in the near future.

What am I doing about it?  I am beginning a new diary!  Inspired (do I want to use that word?) by The Heroine Diary's opening track where Nikki Sixx acknowledges, "It's just you and me diary.  Welcome to my life." (edited)

Of course, Nikki Sixx wrote his diary while on tour from '86 to '87 during a deep bout with heroine addiction.  I am starting my diary about my trials to become debt free! 

Which diary do you think will be more interesting?]]> http://www.destroydebt.com/blogs/carnival/341-the-carnival-of-debt-reduction.html http://www.destroydebt.com/blogs/carnival/341-the-carnival-of-debt-reduction.html Mon, 22 Dec 2008 12:44:59 GMT This week, the Carnival of Debt Reduction has 30 submissions ranging from how to handle holiday debt to paying off your mortgage to generating additional income to pay off debts. I was planning to do a really entertaining theme in honor of the holidays, but unfortunately have been hit with a ...
I was planning to do a really entertaining theme in honor of the holidays, but unfortunately have been hit with a not-so-entertaining migraine. So instead, I bring you the carnival of debt reduction submissions in their very raw... but highly functional clickable link format!

My own entry for the carnival is about how to Make Your Own Debt Reduction Plan posted here on Destroy Debt. Hope it helps.

MORTGAGE

nickel presents Deciding When to Refinance Your Mortgage posted at fivecentnickel.com.

Heather Levin presents The Benefits of Paying Off Your Mortgage Early posted at The Greenest Dollar.

HOLIDAY STUFF

Peter presents Christmas Budgeting Tips: Avoid Overspending At This Expensive Time Of Year posted at Bible Money Matters. Budgeting tips to help you avoid going further into debt this Christmas!

From Bob at Christian Financial Help, Secret Santas giving out cash! - a really heart warming holiday story about people giving anonymously to those in need during the Christmas season.

Pfincome from Passive Family Income wants to give us Money saving techniques for holiday gifts Tips and tricks on saving money for holiday gifts.

Debt Free Destiny presents New Year's Resolution: Get Out of Debt For Good posted at Debt Free Destiny.

MAKING or FINDING MONEY TO PAY OFF DEBT

Kind of hard to pay off debt when you aren't making enough to cover your living expenses, right? Scott Crawford from DebtGoal gives 10 Big-Ticket Clutter Items to Sell for Instant Cash as a way to find cash for Christmas or paying down the post-Christmas debt hangover.

TAXES

Bill Spohnholtz presents Best Tax Savings Tip For A Down Market posted at Learn The Stock Market And How to Trade.

The Smarter Wallet presents Debt Collection Practices: Going From Debtor To Debt Collector posted at The Smarter Wallet.

DianeDean presents Gift Expenses and The IRS posted at Need IRS Help?.

BUDGETING & MONEY MANAGEMENT

David G. Mitchell presents The High Cost of Picture Day posted at Saving Advice. We hate picture day because it is yet another fund raiser that forces parents to either purchase incredibly overpriced pictures or to tell their children that even though all of the other kids are buying pictures, they cannot. It is a no-win situation. Pay the prices of price-gauging photographers or let down your child. Neither is palatable.

MoneyNing presents Bargaining to Advantage: Lowering your Bills in a Recession posted at Personal Finance Blog by Money Ning. Times are bad and companies want your business! Bargain to your advantage and save yourself some money!

The Money Beagle tells us how to Reduce Debt By Paying Double For Gas Guess you gotta read it to see what that means.

Polly Poorhouse at Economic Crunch has had some luck lowering interest rates to more managable levels and tells us about it, Bye Bye 27.99%.

RC entertains on Think Your Way To Wealth with an INteresting Video and Commentary-Money as Debt.

Sam presents More Ways to Save on Auto, Home and Health Insurance posted at Fix My Personal Finance - Personal Finance Advice - Money Management Advice.

J. Money presents How we're putting the Mrs. through grad school! (so far so sexy) posted at Budgets are Sexy.. Best way to reduce debt? don't get it in the first place! For Grad school, work on scholarships and TA's.

Debt Freedom Fighter presents How to Find the Debt Relief Company That is Right For You posted at Discover Debt Freedom.

CREDIT CARDS

apply4-credit presents Got Bad Credit? Get Secure posted at Apply4-Credit.

Eden at Finance and Fat offers Looking Back on a Year Without Credit Cards

FMF presents Free Money Finance: College Credit Cards: A Bad Idea posted at Free Money Finance. ¤ It's a bad idea to get a credit card while in college.

THOUGHTS ON INVESTING

Investing School presents 9 Terrific Investing Websites That is Sure to Suck Up Your Time posted at Investing School.

William Blake presents Pay Off Debt Or Invest Your Money? posted at Debt Smackdown. If you suddenly find yourself with some extra money, does it make more sense to invest it for the future or to pay off debt with it today?

Finance Tips 101 presents Timeshares, Affordable Part Time Ownership With A Twist posted at Finance Tips 101.

Sandy Naidu presents Bernard Madoff's Ponzi Scheme posted at FutureNestEgg.

CreditAddict presents Chase Increases Credit Card Rates and Adds New Fees posted at Credit Card Addict.

OTHER STUFF

Jesse Wojdylo presents What are YOU Willing to Go In Debt For? posted at Subprime Blogger.

Lindsay presents #1: Learn from financial mistakes posted at Budgeting for Beauty.]]> http://www.destroydebt.com/blogs/debbie/339-the-carnival-of-family-life.html http://www.destroydebt.com/blogs/debbie/339-the-carnival-of-family-life.html Mon, 15 Dec 2008 06:13:00 GMT We're pleased to be hosting the December 15th, 2008 edition of The Carnival of Family Life: Education Becky presents Making it Up As We Go Along posted at The Life Without School Community Blog. Erin presents The Benefits of an Inclusion Classroom posted at School Psychologist Blog Files. Sh...
Education

Becky presents Making it Up As We Go Along posted at The Life Without School Community Blog.

Erin presents The Benefits of an Inclusion Classroom posted at School Psychologist Blog Files.

Shen-Li Lee presents Tailor-Made Flash Cards for Your Child posted at Babylicious.

GrrlScientist presents The Hungry Scientist Handbook: Electric Birthday Cakes, Edible Origami, and Other DIY Projects for Techies, Tinkerers, and Foodies posted at Living the Scientific Life, a review of Patrick Buckley and Lily Binns' entertaining and informative romp through twenty "kitchen science" projects.

Donald Latumahina presents Essential Skills for Success: Learning Skills and People Skills posted at Life Optimizer.

Family Cooking & Recipes

Stephanie presents Winter Comes Too Soon posted at Stop the Ride!. Family Crafts and Activities

Amy Smith presents Nativity Crafts and Activities posted at Kids Love Learning.

Stephanie presents 5 Simple Christmas Crafts for Kids posted at Make It From Scratch.

Family Finance

Helene Zemel presents Finding a Great Home-Based Business posted at Work at Home Mom and Dad. "With the high cost of daycare and gasoline," Helene writes, "now may be a good time to start a home-based business," suggesting some businesses and offering things to look out for.

The Smarter Wallet presents Create Your Family Holiday Traditions and Save Money! posted at The Smarter Wallet.

One Family presents Best Value Notebook/Laptop and Netbook/Mini-Notebook Computers - Comparison/Review (ASUS Eee PC, Acer Aspire One, MSI Wind, HP Mini-Note, Dell Mini 9) posted at One Family's Blog, a comparison of the best value laptops and netbooks to assist frugal shoppers decide which is best for general family use.

Dana Tuetken presents How to Stop Overspending at Christmas posted at Not Made of Money.

Nicki presents Can You Afford To Work? posted at Domestic Cents.

Elizabeth presents Home Economics Ingenuity 101 - Re-purposing posted at Suburban Wife's Daily Dollar Diary. "Household frugality is about more than buying generics and clipping coupons," according to Elizabeth. She advocates buying high-quality, long-lasting products and using them to their fullest potential.

Credit Shout presents How To Use Credit Card Bonus Points For Holiday Shopping posted at CreditShout.

Raymond presents Credit Card Offers For People With Bad Credit Or Poor Credit History posted at Money Blue Book.

Silicon Valley Blogger presents Last Minute Gift Ideas and Shopping Tips For Holiday Procrastinators posted at The Digerati Life.

The Smarter Wallet presents 12 Homemade Gift Ideas To Fit A Small Budget posted at The Smarter Wallet.

Susan Gaissert presents Things We Do to Save Money posted at The Expanding Life. Family Health and Wellness

Atif Farid presents Is your child anemic? posted at dratiffarid.

Relax presents How to Become a Sleeping Winner posted at The Wise Curve. Good quality sleep is achieved with progressive muscle relaxation, and a proper matress and pillows.

Scott Lee presents 10 Reasons to See a Therapist (Even When You Don't Need Therapy) posted at ScottLee.Name.

Super Saver presents Older and Slower posted at My Wealth Builder.

Alvin Hopkinson presents How to Gain Comfort posted at Relief From Gout, explaining that there are different treatment methods, depending on severity. Relief comes from a combination of lifestyle changes, dietary modifications and exercise.

Aparna presents Fish oil for a younger looking skin posted at Beauty and Personality Grooming, Did you know that it keeps your face young?

Peter Garant presents Air Humidifiers for a Cool and Misty Environment posted at Humidifier Reviews, Peter suggests that a dearth of humidity inside the house, especially in winter, may be making breathing difficulty for your family members.

Family Humor

Stephanie presents Trying to out smart me again.... posted at Adventures in the 100 Acre Wood.

Family Pets

GrrlScientist presents Ten Tips to Keep Your Pet Birds Safe This Holiday Season posted at Living the Scientific Life. GrrlScientist presents Gift Wrapping With Bird Companions posted at Living the Scientific Life, saying, "I thought you might find this little essay amusing about wrapping gifts when there is a parrot in the house." Family Relationships and Self-Improvement

Erica Douglas presents Stepping Outside the Comfort Zone posted at LittleMummy.Com.

cate3 presents Update on "Baby Bop" posted at Why Homeschool, sharing how her family has recently grown.

Vickie Sloderbeck presents Mark(er) My Words — Sidetracked Moms posted at Sidetracked Moms. Vickie Sloderbeck presents Make Your Bedroom Your Favorite Room in the House posted at Joyful Journey Productions.

Family Spirituality/Belief/Worship

Minister Mamie L. Pack presents The Phone Booth posted at The Life I Now Live.

Family Travel

Sheila Scarborough presents Getting nautical at Nauticus in Norfolk, Virginia posted at Family Travel Guide. This interactive Virginia museum, complete with a battleship, offers seafaring and maritime history, Parenting Tips and Advice

Chief Family Officer presents Choosing a new car seat is not that easy posted at Chief Family Officer.

Condo Blues presents 10 Green Gifts That Suck posted at Condo Blues, opining that "there are a lot of good green gifts out there. None of them are on this list."

Joe presents Child Locators posted at GPS Tracking Watches. There are two main types of locators to choose from - long and short range. This article helps you select the best for your family, based upon your needs.

MoneyNing presents Let Your Children Handle Their Own Finances posted at Money Ning, suggesting that you "give your children a chance to make mistakes."

Anna Migeon presents Suzuki Gives A Lesson in More Than Piano: How to Fake It Until You Make It with “Reverse Psychology” posted at French kids don't get fat. According to Anna, "Getting kids to eat involves quitting while you're ahead."

Alvaro Fernandez presents Games for Brain Health - Novelty, Variety and Challenge posted at SharpBrains, arguing that gaming can be good for your brain.

HowToMe presents How to Find ?Free? Travel Snack ups posted at HowToMe.

Kevin presents Kids Can Make a Difference - Teaching Kids Charity posted at More4kids.

 

Thank you for participating in and supporting this week's Carnival! You definitely don't want to miss next week's very special, annual Merry Christmas Edition of the Carnival at Colloquium! If you would like to participate in next week's edition of the Carnival, click here to submit the link to and relevant information about your posts. If you have questions, be sure to review the Carnival guidelines before submitting your posts. Would you like the Carnival to pay a visit to your site? Check out the hosting schedule, select a date, and then drop a line advising what week you would like to host.]]> http://www.destroydebt.com/blogs/pinkdaisy/338-another-one-bites-the-dust.html http://www.destroydebt.com/blogs/pinkdaisy/338-another-one-bites-the-dust.html Fri, 12 Dec 2008 03:26:36 GMT Well it has happened again, my card from Wells Fargo sent me a notice letting me know that my credit limit was going to be reduced. Hmm I said ok I can deal with that, since I have not been using the card at this point for a long time.  Fast forward to a few weeks and another notice from Well...
Fast forward to a few weeks and another notice from Wells Forgo, this time stating that my interest rate was going, up. I have as with my other cards the chance to opt out and close the account.  I have chosen to close the account, because it will take me a while to pay it all off, even with paying extra as it is.  If the rate goes up, they win in two ways they get more interest from me and if and when I use the card again the new rate applies.  By opting out as they call it I lose another card, and it hurts my credit score but if the rate goes up I lose anyways in extra finance charges.  It is a no win situation for me the consumer.

Now my husband and I are down to  2 credit cards total between the two of us.  Those cards have a zero balance, I figure there is no way to increase my interest on those, they have nothing to gain from it.  For the time being those cards are being left alone. I say for the time being because I am pretty skeptical that they will just leave those be.  The banks are always up to something and it is always not good for me.]]> http://www.destroydebt.com/blogs/sanchez505/337-response-to-the-800-and-auto-dialer.html http://www.destroydebt.com/blogs/sanchez505/337-response-to-the-800-and-auto-dialer.html Thu, 11 Dec 2008 09:25:31 GMT Dear Consumers, Financial Freedom of America is aware of the telemarketing being performed through an auto dialer using the phone number 800.451.7391. Financial Freedom of America only advertises through radio, television and billboards. We have never, nor will we ever, use outbound advertisi...
Financial Freedom of America is aware of the telemarketing being performed through an auto dialer using the phone number 800.451.7391. Financial Freedom of America only advertises through radio, television and billboards. We have never, nor will we ever, use outbound advertising methods such as telemarketing with an auto dialer. We have already filed a complaint on our behalf with the Federal Trade Commission (complaint # 21093301), and we are working with the Texas Attorney General’s Office in a proactive approach to prosecute the individual or individuals behind this scam to the fullest extent of the law. We have been successful in tracing the ownership of the phone number to a company located in Carlsbad, CA, but unfortunately, at this time we can not reveal the company’s name for legal reasons. As soon as we have a resolution to this problem, we will post an update. Thanks in advance for your understanding in this frustrating situation for all of us.

Very respectfully,
Financial Freedom of America]]> http://www.destroydebt.com/blogs/debbie/336-two-carnivals-making-a-stop-here-at-destroy-debt.html http://www.destroydebt.com/blogs/debbie/336-two-carnivals-making-a-stop-here-at-destroy-debt.html Tue, 09 Dec 2008 01:47:58 GMT In order to bring you a good variety of personal finance, budgeting, get out of debt and family related content, I will be hosting two different carnivals in the next two weeks.  A blog carnival offers you a way to find a bunch of articles on the topics you want to read about all in one place! ...
On December 15th, check here for the Carnival of Family Life.  If you are a blogger and want to submit your family related content, just submit here and I'll do my best to include your article.

On December 22nd, the Carnival of Debt Reduction will be published on this blog.  This should give you your weekly fix of get out of debt strategies and success stories to motivate you to reduce debt and avoid getting into more debt through the holiday season.  If you'd like to include an article you've written to the Carnival of Debt Reduction, send it in here.]]>