I’ve Paid For This Twice Already…

Carnival of Debt Reduction #111 ~ What’s Scarier Than Debt?

What’s Scarier Than Debt?

There is many a financial predicament, and among the scariest indeed is the oppressive weight of debt and all that it brings with it. What better to do in this week of Halloween than explore the scary side of debt, find some tools to start turning that around, and see inspiration in what could be in a life without debt? I’ve listed all the entries with my own comments on the entry following each one. Without further ado, we’ll delve into some scary debt stories…

• Editor’s Choice: Crisis Imminent at Debt Sucks. Reality is harsh. I remember well my first REAL long hard look at reality. I figured it out, and you can too.
• Editor’s Choice: How Did I Get Here? – Part I: My Financial Revolution posted at TV Girl and Money. Again… reality…. stinks. But once you see reality, no matter how scary, you can start to deal with it.
• Debt has really strong shackles and chains posted at One Snarky Chica with Issues. When you are in debt sometimes your choices get dictated for you instead of you making them yourself.
• Sound the Alarm! posted at ChrisKakaras.com. Some facts about the situation of debt in America that might make you jump out of your skin.
• Bad Financial Advice or a good idea: 10 Great Reasons to Carry a Big, Long Mortgage from Finance and Fat. A great deconstruction of some very iffy - and SCARY - advice.
• Eating is to money as food is to debt posted at collectingmycash. Being able to avoid temptation, be it spending money or eating junk food, is a beautiful thing. But being in a place of only $10 til payday can be a very scary place.
• The Worst Mortgage In The World and A Look At Creative Mortgage Loans written by The Digerati Life. What’s scariest about this is some people really have mortgages approaching this and somone convinced them it was a GOOD thing.
• Day 28 of 33 Days And 33 Ways To Save Money And Reduce Debt: Find Out How Bad (Or Good) Your Situation Really Is from No Credit Needed. It may be scary…. but figure out your situation. Then start to go from there. Without knowledge you will get nowhere.

Now that you’re thoroughly frightened, some that have been there done that and come out on the other side (or just play one on TV), or deep in the throes of fighting their way back from debt meltdown (that’s me!) can show you how to get out of debt in one, two, three, or seven steps…. or any other number you might fancy! The tools to debt freedom are within your grasp….

Fighting the Good Fight:

• Editor’s Choice: Preventative Medicine for a More Debt-Free Lifestyle from Rocket Dollar. Look at the size of that prozac…. One of the keys to debt freedom is refusing to take on more debt. This is an entertaining (and sobering) tale.
• Editor’s Choice: Pre-Cut Fruit Or Cooking And Debt Reduction posted at Juicy Chicken. And it is not an editor’s choice because it mentions my blog! (Although I appreciate it lol). Changing habits is really a big key to getting out of debt, be it little or big ones.
• Transfer Complete! from The Good Life on a Budget. Sometimes taking a few steps to maximize your payoff dollars (ie eliminating credit card interest) can really energize that debt payoff!
• Our Plan on Two Cent Finance. Coming up with a plan is sometimes a daunting task. Here’s how Two cent Finance is approaching their debt.
• Comparing Debt Repayment Plans posted at Becoming & Staying Debt Free. Another debt payoff plan to accelerate payments and get out of debt within the next year. Fight the good fight!

Advice from beyond the debt trenches:

• Editor’s Choice: Voluntary Simplicity - Is It The Answer? posted at My Two Dollars. Simplifying our lives and *choosing* to live simple lives can do so much for not only our finances, but for our whole outlook.
• Getting Out of Debts in 3 Steps from The Financial Blogger. TFB helped out a friend by giving advice on how to prioritize and make a debt repayment plan. What a great friend!
• Stay Away From Department Store Credit Cards posted at Money Blue Book. Store credit cards… not your friend. really. Ever. Back away…..
• Stop Buying Things That No One Will Ever EVER Need! posted at xynny. If you’re buying useless stuff that is putting you further into debt… well… stop!
• Bankruptcy Vs Bankruptcy Alternatives from A Bankruptcy Lawyer’s Blog. Bankruptcy is not always the answer (or well, hardly ever I think) so make sure you are looking at all your options.
• 7 Steps to Debt Freedom posted at My Debt Relief Blog. Some smart and simple steps to get out of debt - not sure I agree with #7 but the rest sound sane and solid.
• 7 Simple steps to getting out of Debt at Mortgage Blog. Another 7 step plan for getting out of debt with a lot of similarities - solid ideas and sound philosophy.
• 6 Bad Habits That Can Lead You Into Debt from Finance 123. These are more “6 ways to stay in debt” vs being led into debt, but good advice of what NOT to do.
• My War On Debt: Do This Before You Pay Off that Debt from MInTheGap. Ah! The Emergency fund! I am also a believer in the emergency fund.
• Consolidate Student Debt : The Truth About Credit Cards.com posted at The Truth About Credit Cards.com. Ways to deal with student loan debt, which I can attest to, can be a very draining form of debt.
• Payments And Credit Aren’t Leading Us Anywhere Good posted at The Happy Rock. Buying on credit, buying on payments… none of this is the answer!
• 3 Secrets to Early Retirement (and Life like a Nomad forever) from nomad4ever. Secrets to living the good life free from debt… some so radical you may never have even considered them!
• Debt Reduction in 3 Easy Steps at Debt Reduction Formula. Common sense ideas to getting on the right path to debt reduction.
• Other options besides Payday Loans posted at Payday Loan Cheapskate. Payday loans can become financial suicide. If you think debt is scary… this is heart-attack inducing.
• The First Thing’s First: Prioritize Your Debts posted at Getting Green. Figuring out what is REALLY the first priority is key.
• Protect Your Credit Score by Limiting Credit Inquiries posted at Free Money Finance. Managing your credit score can help you manage your debt as well.
• Can Renting Play A Part In The American Dream? posted at Millionaire Mommy Next Door. Renting instead of buying can save you a lot of money in the right circumstances and keep you out of debt.

And finally, be inspired by stories from wishful to factual - if or when debt freedom is in your grasp, what would your life be like….

• Editor’s Choice: Top 10 Reasons to Be Debt Free posted at DebtFREE-Revolution. Some funny, some soooo true!
• Editor’s Choice: The Enhancement from Cynthia’s Debt Marathon. Quality of life can improve as debt reduction continues and what is really important shakes out.
• If I Were Debt Free…. from beingfrugal.net. Debt freedom… what a enticing picture.
• If I Were Debt Free… posted at A Penny Closer. From a little closer to debt freedom, another picture of what could be.

That’s all for this scary yet inspiring edition! Get a jump on submitting to next week’s Carnival of Debt Reduction using this carnival submission form. Past posts and future hosts can be found on the blog carnival index page. Thanks for reading and I hope you found some favorites of your own, and thanks so much to the Carnival of Debt Reduction choosing me to host this week!

If you enjoyed this post, make sure you subscribe to my RSS feed!