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Debt

Paying Off Debt is Like a Winter Blizzard

The US has had some crazy weather this fall and winter. The recent snow storm that hit the Northeast dumped two feet of snow and caused all kinds of mayhem. Southwest Colorado often gets hit with storms producing that much or more snow. While we don’t generally get the media attention that more populated areas receive, we know all too well how to deal with a winter storm. Actually when you think about it, winter storms are like getting out of debt in many ways. Tropical people bear with me as I show you how a winter blizzard can be used as an example of how to get out of debt.

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5 Reasons Why Consumers Can’t Get Out of Debt

This is a guest post. If you are interested in guest posting, please read my policy and contact me. It is not unusual for a consumer to run into money issues. If a person attempts to get out of debt, he or she generally face many obstacles, not least themselves. Identifying the real reasons behind the failure can aid in reaching the goal of healthy financing, which is exactly what this post is all about. 1. Lack of a Budget When you cannot break out of accumulating debt, it may be due to the lack of a budget. A budget allows you to limit the amount of money that is available for spending on a weekly or monthly basis. The budget plan may be for an individual; if this is not the case, a family may create an overall budget to keep spending under control and make sure there’s enough in the kitty to cover essential bills. It is a very good idea to leave the budget plan in a prominent place at home as this may help you to resist the urge to spend money you don’t have.

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10 Step Program For Getting Out of Debt

The following is a guest post. If you would like to submit a guest post please read the guidelines and contact me. I have been in debt since I was 18 in some way, shape or form. I have always wanted to get out of it, but always had a hard time figuring out how to start. Finally, 16th months ago, I started. I am almost done, and my method worked! Here is my 10 step program to getting out of debt. I wish I could say I made this up, but I didn’t. There are a ton of experts who I read and listened to, and they shaped what I am writing here. If you are like me and you feel like you just don’t know how to begin, this program is designed to give you a guide of sorts. Of course you should tailor it to fit your needs. This is not so much for people who have a couple of cards and are lazy about paying them off. It’s for those of you who have trouble finding any extra money to pay off debts, who seem to find themselves getting deeper and deeper into debt, and don’t ...

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Debt Movement: Get Rid of Debt Payments Once and For All

Unfortunately debt has become the accepted standard in today’s society. If you don’t have half a dozen revolving credit accounts, a jumbo mortgage, and a couple of new cars, you aren’t living. Debt is so accepted that I’ve known people, self included, who graduated from school and couldn’t wait to start applying for credit so we could fill our lives with the things that everyone tells us we need. Thirteen years later, I have a different view. After years of interest payments, balance transfers, chasing 0% offers, and trying to track when payments were due, I’m done with debt payments. Debt has become a four letter word in our house. Is There A Such Thing as Good Debt? You’ve likely heard the argument that a “good” debt is one that allows you to potentially better yourself in some way. Student loans are good because they allow you to earn more money with a college degree. Mortgage debt is good because you are able to have equity in the place where you live.

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How We Paid Off $30,000 in Credit Card Debt

credit card debt payoff

November was a truly happy month in our household. After a year and a half  of hard work, we paid off the last of our credit card debt. We learned some new things about ourselves and our needs and wants along the way. It isn’t rocket science, but here’s how we did it. Background The reason we ended up with this debt was pure and simple lifestyle inflation. We were doing pretty well until we built our house in 2004. It took most of our savings, and by itself, was not a toxic debt. The mortgage is affordable. We have good equity. You have to live somewhere. What got us was the need for stuff to fill it up. We left a couple of rooms unfinished, but filled the others up with new furniture, curtains, rugs, a new washer. I could go on and on. We also bought tons of lawn equipment, new bikes, and skis, whatever we wanted. Before our daughter was born, we decided to finish the spaces we had left, so that was a big bill on the Home Depot card. All the while, we were trading in cars every three or four years, which insured a ...

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