Comments on: Debt Reduction for the Willfully Stupid

By: Gustav

Gustav — Sat, 02 Jan 2010 19:18:32 +0000

I agree with your suggestions in your post to obtain funds to reduce and/or eliminate debt. I did just that many years ago and now am totally debt free. Instead of a large contingency fund, I have a large equity line as well as open credit cards that don’t cost me anything should an emergency arise. Good post, thanks.

By: Brad

Brad — Thu, 16 Jul 2009 17:02:53 +0000

A lot of people, I think, exclude certain jobs because they’re “Worth more than that.” Even if it’s mowing the neighbor’s lawn, every little bit helps. I might start by looking around online and seeing what kind of opportunities there are there. Things like taking surveys online may not pay what you’re used to per hour, but it can help get your debt under control.

By: Deb

Deb — Wed, 15 Jul 2009 18:14:36 +0000

It’s all well and good to say “get a second job”…but how, exactly?

Right now, with 14.7 million people out of work (people with 15 and 20 and even more years of experience). Of those, 45.9% have been looking for work for 15 weeks or more.

You can’t exactly walk into a Wendy’s and get a job these days, and Craigslist is a desert, too.

Any recommendations?

By: FinanciallySmartServices

FinanciallySmartServices — Tue, 14 Jul 2009 18:01:02 +0000

Yes spending less and earning more is the ultimate goal to diminished debts. We should always plan ahead before we begin spending as well.

By: JT @ Redeeming Riches

JT @ Redeeming Riches — Mon, 13 Jul 2009 15:15:09 +0000

Thanks for the post. I agree with you about selling some items to help pay your debts. My wife and I made some decent money selling old clothes, cell phones and jewelry on ebay!

As far as the emergency fund, I would suggest what Dave Ramsey suggests, which is getting at least $1,000 into an EF while you are paying debt and after you have your debts paid worry about building up that EF. I think having a little bit for emergencies is better than having to rely on credit.

By: Rosh

Rosh — Mon, 13 Jul 2009 03:02:25 +0000

As simply as it can be told ‘Make more money Spend Less’. Fantastic tips