Comments on: The Secret to Getting Out of Debt: Forget Snowballs and Interest Rates http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/ Money Saving Insights: Coupons, Smart Spending and Promotional Codes Mon, 13 Feb 2012 05:38:35 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Joe http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43731 Joe Tue, 27 Jul 2010 01:32:47 +0000 http://frugaldad.com/?p=5724#comment-43731 This is a great post, but I think it's only one way out... For example, I was able to get out of debt without boosting my income.Granted, it would have been much easier and much quicker if I had increased my income, but the truth is that I already made a decent income but spent it on stupid things and never saved any of it. I was living beyond my means, but most of it was discretionary and I was able to do without it while I paid off the debt... the upside is that it made me reevaluate my life and as a result I know live a much simpler and happier life. :) This is a great post, but I think it’s only one way out…

For example, I was able to get out of debt without boosting my income.Granted, it would have been much easier and much quicker if I had increased my income, but the truth is that I already made a decent income but spent it on stupid things and never saved any of it.

I was living beyond my means, but most of it was discretionary and I was able to do without it while I paid off the debt… the upside is that it made me reevaluate my life and as a result I know live a much simpler and happier life. :)

]]> By: Greg http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43702 Greg Mon, 26 Jul 2010 02:55:45 +0000 http://frugaldad.com/?p=5724#comment-43702 Short term pain for a completely new way of looking at life. Debt free living is awesome, congratulations for staying focused on the goal. Thanks for cutting to the chase and for the great article. Short term pain for a completely new way of looking at life. Debt free living is awesome, congratulations for staying focused on the goal. Thanks for cutting to the chase and for the great article.

]]> By: Glass Is Half http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43663 Glass Is Half Fri, 23 Jul 2010 08:37:24 +0000 http://frugaldad.com/?p=5724#comment-43663 Thanks for the information and advise. Writing a blog about something I'm passionate about is definitely something I've started doing - however I have not paid it the same level of dedication that you did and can see easily why your return is so much higher than mine. You are lucky that your spouse supported you in your activity and endeavours - I hope that I when/if I receive a return I shall receive similar support, but regardless of if it comes or not, I realize now that it isn't just a matter of working smarter - but also one of working harder! Thanks for the information and advise. Writing a blog about something I’m passionate about is definitely something I’ve started doing – however I have not paid it the same level of dedication that you did and can see easily why your return is so much higher than mine.

You are lucky that your spouse supported you in your activity and endeavours – I hope that I when/if I receive a return I shall receive similar support, but regardless of if it comes or not, I realize now that it isn’t just a matter of working smarter – but also one of working harder!

]]> By: Kristen http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43659 Kristen Fri, 23 Jul 2010 06:10:41 +0000 http://frugaldad.com/?p=5724#comment-43659 Can't say I agree with these figures. We're a family of 5, and live comfortably on one full time income ($35000 salary plus $3500 bonus annually) and some income from odd jobs here in there. (about $200-250/month) I find this completely doable. Our mortgage is under $800 per month (1600 sq ft home), we don't have any car payments (we set aside my hubby's annual bonus as money to replace our existing cars when they eventually die), and I spend less than $200 a month on groceries by couponing and using cloth diapers. We have a lower utility bill than some of our friends by using power strips, green light bulbs, keeping our theromastat at 76 or 77, and line drying our laundry. It's all about choices. If your willing to give up some luxuries (eating out, big houses, new cars, etc), then it's completely possible. I may not have all the latest things, but I still feel extremely blessed. Can’t say I agree with these figures.

We’re a family of 5, and live comfortably on one full time income ($35000 salary plus $3500 bonus annually) and some income from odd jobs here in there. (about $200-250/month) I find this completely doable. Our mortgage is under $800 per month (1600 sq ft home), we don’t have any car payments (we set aside my hubby’s annual bonus as money to replace our existing cars when they eventually die), and I spend less than $200 a month on groceries by couponing and using cloth diapers. We have a lower utility bill than some of our friends by using power strips, green light bulbs, keeping our theromastat at 76 or 77, and line drying our laundry.

It’s all about choices. If your willing to give up some luxuries (eating out, big houses, new cars, etc), then it’s completely possible. I may not have all the latest things, but I still feel extremely blessed.

]]> By: Would You Invest Your Money with Me Directly? http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43632 Would You Invest Your Money with Me Directly? Thu, 22 Jul 2010 14:49:57 +0000 http://frugaldad.com/?p=5724#comment-43632 [...] The Secret to Getting Out of Debt: Forget Snowballs and Interest Rates [...] [...] The Secret to Getting Out of Debt: Forget Snowballs and Interest Rates [...]

]]> By: Make A Mid-Year Resolution http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43631 Make A Mid-Year Resolution Thu, 22 Jul 2010 14:39:48 +0000 http://frugaldad.com/?p=5724#comment-43631 [...] Got too much credit card debt? Outline a plan to get it paid off. Whether it takes three months or three years, you’ll feel great when you rid yourself of [...] [...] Got too much credit card debt? Outline a plan to get it paid off. Whether it takes three months or three years, you’ll feel great when you rid yourself of [...]

]]> By: Good Blog Posts on Debt Reduction and Relief – California Loan Find http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43628 Good Blog Posts on Debt Reduction and Relief – California Loan Find Thu, 22 Jul 2010 13:16:03 +0000 http://frugaldad.com/?p=5724#comment-43628 [...] Frugal Dad: The Secret to Getting Out of Debt – this article has some interesting consumer stats worth checking out when you get a chance. [...] [...] Frugal Dad: The Secret to Getting Out of Debt – this article has some interesting consumer stats worth checking out when you get a chance. [...]

]]> By: Margaret http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43557 Margaret Tue, 20 Jul 2010 21:07:52 +0000 http://frugaldad.com/?p=5724#comment-43557 Jenna, I went through Dave Ramsey's Financial Peace class and recall him teaching on several occasions that part of "gazelle intense" was the reality that if you had tons of debt, part of the solution was doing EXTRA work (for a time), not just rigging up a debt repayment plan on the "average income" that you were already earning. While you are getting rid of debt, doing things like saving & investing for retirement may not happen (OTHER THAN the 1K "baby emergency fund!") til you can knock out some debt. Eventually you have room to do the things you 'should' have been doing all along. By the way, when a coupon is redeemed, the retailer gets the face value plus 8 cents or so back from the manufacturer. So they make money on the deal. The manufacturer times coupon release and pricing so that they don't get hurt in the deal either. Just because some folks act fraudulently doesn't mean one shouldn't coupon any more than all of us should give up going to the store just because some folks shoplift. Jenna, I went through Dave Ramsey’s Financial Peace class and recall him teaching on several occasions that part of “gazelle intense” was the reality that if you had tons of debt, part of the solution was doing EXTRA work (for a time), not just rigging up a debt repayment plan on the “average income” that you were already earning. While you are getting rid of debt, doing things like saving & investing for retirement may not happen (OTHER THAN the 1K “baby emergency fund!”) til you can knock out some debt. Eventually you have room to do the things you ‘should’ have been doing all along.
By the way, when a coupon is redeemed, the retailer gets the face value plus 8 cents or so back from the manufacturer. So they make money on the deal. The manufacturer times coupon release and pricing so that they don’t get hurt in the deal either. Just because some folks act fraudulently doesn’t mean one shouldn’t coupon any more than all of us should give up going to the store just because some folks shoplift.

]]> By: Save a Load on Metamucil (and Personal Finance Links) http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43529 Save a Load on Metamucil (and Personal Finance Links) Tue, 20 Jul 2010 15:09:19 +0000 http://frugaldad.com/?p=5724#comment-43529 [...] Frugal Dad reveals the secret to getting out of debt: forget snowballs and interest rates. [...] [...] Frugal Dad reveals the secret to getting out of debt: forget snowballs and interest rates. [...]

]]> By: heaps! http://frugaldad.com/2010/07/14/the-secret-to-getting-out-of-debt/#comment-43492 heaps! Mon, 19 Jul 2010 23:34:20 +0000 http://frugaldad.com/?p=5724#comment-43492 Great advice and tips! I would like to hear some more tips for students. I have recently graduated and have been taking advantage of my freedom to get as much experience as I can, and in as many new places as I can. Many of my opportunities are unpaid internships. I just started one close to three weeks ago, and I'm loving it! I need to find paying work in order to reduce the stress of watching my accounts sink! However, that is still only ONE paying position. What suggestions do you have for recent graduates/ or full time students? How can we start working off our student debt and get new experiences? Cheers, Janelle Great advice and tips! I would like to hear some more tips for students. I have recently graduated and have been taking advantage of my freedom to get as much experience as I can, and in as many new places as I can. Many of my opportunities are unpaid internships. I just started one close to three weeks ago, and I’m loving it! I need to find paying work in order to reduce the stress of watching my accounts sink! However, that is still only ONE paying position. What suggestions do you have for recent graduates/ or full time students? How can we start working off our student debt and get new experiences?

Cheers,

Janelle

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