Posts Tagged ‘debt’

Debt Is Slavery: Ten Lessons

J.D. Roth at GetRichSlowly reviews Michael Mihalik’s 2007 book, Debt is Slavery (and 9 Other Things I Wish My Dad Had Taught Me About Money), by providing ten lessons he learned from the read.

You would have come across these ideas before, but this roundup is good because it’s simple and each lesson is important to staying out of debt and generating wealth.

Save 50% of your salary. This is the… » Continue

How to gain financial peace of mind

Lifehack.org guest contributor and Zen Habits editor, Leo Babauta, gives some very practical advice about how to get your finances under control and gain some financial peace of mind. The following are my favorite take-aways from the list:

Make your payments automatic.
I’ve covered this before … it’s an great alternative to the above method. Instead of paying bills as they come in, you can set up automatic payments and automatic… » Continue

Common Debt Reduction Mistakes

The No Credit Needed Blog gives some insight into the mistakes most commonly made when trying to climb out of debt. The foundation of the tips seems to be staying calm, protecting yourself and your assets, and creating a plan to get out of debt (not just going for broke trying to pay everything off at once). The following are my favorite tips from the list:

Try… » Continue

Debt Diet: Step-by-Step Action Plan

At Oprah.com, financial experts David Bach, Jean Chatzky and Glinda Bridgforth offer a step-by-step action plan to help you get rid of your debt. The plan has 8 steps, and they concentrate on calculating your essential costs and cut back your excess costs - and stick to your spending plan! It is all about save what you got to free yourself from financial problem sooner:

  • Step 1: How much debt do

5 Tips for Getting Out of Debt (and Why)

When young people are first starting out in life, either as college students or young workers, debt looks like an easy solution to the shortage of money that seems to go with this period of life. It’s only a temporary fix, however, and will set a person back in the long run. Suze Orman, in The Courage to Be Rich, points out the outrageous amount of money that… » Continue

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