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5 Tips for Getting Out of Debt (and Why)

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 is paid on interest over the years with credit cards and other debts. She and other financial experts offer some tips for getting out from under.


1. Know about your credit cards. When you get the bill, look it over until you find the APR (annual percentage rate), which is the interest rate. Credit cards sometimes list other percentages and fees, but the APR is what will get you in the end. List your cards from highest to lowest APR. For instance, put that 27% interest card first, and the 0% cards last.

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2. Work from the top down. Pay as much extra as possible on that top card each month. Make minimum payments on the others. When that highest card is paid off, start the process with the next card on the list. Carry out this procedure until all the cards are paid off.

3. Round up. For speeding up the time it takes to pay off your mortgage, simply add a few dollars each month. Those dollars are applying to the principal, and even a few dollars a month can trim years off your debt. One idea is to round the amount up to the nearest ten.

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4. Emergencies? Experts disagree about the wisdom of keeping one low interest card on hand for emergencies. Frankly I think it makes some sense, but Dave Ramsey, author of The Total Money Makeover: A Proven Plan for Financial Fitness, says No. He says you should perform “plastic surgery” on those cards and cut them up. The bottom line is how you define an “emergency.” If it’s seeing a great deal on something you’ve been wanting, like a new guitar, maybe, but you don’t have enough money to cover it right now . . . well, that’s not really an emergency!

5. Keep it empty. If you do keep one card on hand for convenience or whatever, the best policy is to always pay it completely every month. Otherwise you are actually living beyond your means. Orman describes that lifestyle as living a lie. It’s been said that many people “spend money they don’t have on things they don’t need to impress people they don’t like.” Think about that statement and see if it applies in your own situation.

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An old classic success book is Success Through a Positive Mental Attitude by Napoleon Hill and W. Clement Stone. These authors listed seventeen principles of success, of which one was what they called “O.P.M.” This acronym refers to “other people’s money.” They advised borrowing money to invest in one’s own business efforts, and then thinking positively so that money would grow. It’s an interesting idea. What do you think?

References:

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Ramsey, Dave. The Total Money Makeover: A Proven Plan for Financial Fitness

Orman, Suze. The Courage to Be Rich: Creating a Life of Material and Spiritual Abundance.

Hill, Napoleon and Stone, W. Clement. Success Through a Positive Mental Attitude

Barbara Wood is a writer and educator living with her family in the Missouri Ozarks.

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Last Updated on February 11, 2021

20 Unusual Uses for Coca-Cola That You’ve Never Considered

20 Unusual Uses for Coca-Cola That You’ve Never Considered

Coca-Cola is an adored product the world over. While keeping yourself in good health means moderating how often you enjoy this drink, Coca-Cola lovers will be happy to hear that there are plenty of uses for the soda pop that don’t involve ingesting it. Impressively, Coca-Cola can be used to help you clean, get rid of rust, and even help maintain your garden. Whether you are looking for a way to finally get rid of those pesky stains, or just want to find new ways to love this drink, these 20 jaw-dropping and unusual uses for Coca-Cola will blow you away.

Kill pests in your garden

Coca-Cola is also an effective pest control method for your garden. To rid yourself of plant munching slugs and snails, pour a small bowl of Coca-Cola and place it near your garden or flowerbeds. The smell will attract these crawling bugs and the drink’s acidity will kill them.

Defrost your windshield

Incredibly, Coca-Cola can also defrost your windscreen in the wintertime. Simply pour Coke liberally across your windshield and wait about a minute. The ice should turn to slush for easy removal.

Clean your pans

Coca-Cola is also useful in the kitchen, especially on burnt pans. For any pan with burnt on messes, pour a can of Coke into the pan and simmer. The mess should easily wipe away. You can also soak kettles and other kitchen items in Coca-Cola to remove scale and build up.

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Clean bugs from your windshield

Another way Coca-Cola can aid in your car care is by removing bugs and gunk from your windshield. Soak a cloth in coke, then rub across your windshield. Just be careful not to get any on your paint job.

Remove rust from your car

Coca-Cola is also useful when removing rust. The simplest method is to dip crumpled tinfoil in Coca-Cola, then give the item a scrub and you should be rust free.

Loosen rusty bolts

Similarly, use Coca-Cola to loosen up a rusty bolt. Simply unscrew the bolt half a turn and pour on Coca-Cola. Let it sit, then give the metal a wipe. The bolt and screws will be one hundred percent in no time.

Remove stains from your fabric

Surprisingly, Coca-Cola is incredibly helpful when removing stains from clothing and fabric. Coke will easily remove grease stains, as well as blood spots. Remember that Coca-Cola itself is brown, so stains on light fabrics might be better removed another way.

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Remove oil spots

Another way to use Coca-Cola is to remove oil stains from cement. Whether it’s your garage or your driveway, soak the stain in Coca-Cola for a few hours then hose off.

Relieve jellyfish stings

Should you be unwilling to neutralize a jellyfish sting the traditional way (with urine) pouring Coca-Cola on the sting will also do the job.

Clean your car engine

Coca-Cola is also an effective ways to clean your car engine. Believe it or not, Coke distributors have reportedly been a fan of this technique for ages. 

Use it in cooking

Coca-Cola is also a fantastic addition to many recipes. Using Coca-Cola to cook pot roast or steaks in will easily tenderize the meat for you. Mixing Coke with ketchup or barbecue sauce also makes for a delightfully sweet glaze.

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Clean your old coins

Another way to use Coke to clean is to soak tarnished coins in the soda. About ten minutes should be enough to get rid of the muck.

Clean your tiles

Incredibly, Coca-Cola can also be applied to tiles to effectively clean grout. Let Coke sit on the tiles that need cleaning for a few minutes, then wipe away.

Supercharge your compost

Coke is also an impressive way to speed up your compost. The sugar in Coca-Cola feeds micro organisms, plus the acidity will help your compost break down faster.

Remove gum from your hair

Coca-Cola can also help you avoid a major hair disaster. If you have gum stuck in your hair, dip the gum into a small bowl of Coke and let it sit for a few minutes. The Coca-Cola breaks down the gum, allowing you to wipe it off.

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Fade unwanted hair dye

Similarly, if you made a mistake with your hair dye, Coca-Cola comes to the rescue. It’s probably best to get in the shower first, then pour Diet Coke over your hair. Let the soda sit for a few minutes, then wash your hair like normal. This method is effective in removing temporary hair dyes, but will likely only fade professionally applied dyes.

Clean marker stains

Coca-Cola is also an easy way to remove marker stains from carpet. Apply a small amount of Coke, scrub the spot, then clean with soapy water. Again, remember that Coca-Cola is brown, so removing stains on white or light-colored carpets might be better achieved with another method.

Clean your toilet

Coca-Cola can also help you clean elsewhere in the house. To easily clean a toilet, pour Coca-Cola all around the bowl and let it sit. There’s no need to scrub, simply flush and your toilet should be sparkling clean.

Feed your plants

Coca-Cola is also a surprising way to add a little extra life to some flowering plants. Particularly with azaleas and gardenias, adding a small amount of Coca-Cola to the soil can deliver nutrients your plant may be low on.

Get rid of bugs at a picnic

The last of our unusual uses for Coca-Cola is to safeguard your picnic or outdoor lunch from pests and wasps. Simply pour a small cup of Coca-Cola and set it out about a half hour before you start to eat. By placing the cup away from your site, bugs will be drawn to the soda and not your lunch.

Featured photo credit: Omer Wazir via flickr.com

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