Finances & Money

Best Debt Articles from Carnival of Debt Reduction #105

Ask Mr. Credit Card hosted this week’s Carnival of Debt Reduction in an awards show fashion, complete with Tricia from Blogging Away Debt as the hostess! Is there something I should know about you two???

Anyway, my article “No More Credit Card Debt” was pitted against two other worthy submissions in the Best Debt Reduction Story category, but lost to My Two Dollars‘ story of “How we paid down our debt and saved money at the same time“.

Here are some of my own favorites from this issue of the carnival:

• Gather Little by Little asks “How do you know you’re in debt?“. This sounds like a straightforward answer, but when we pay off our student loans and car loan, I don’t think I’ll be saying I’m in debt. Technically, I am because of our mortgage, but it’s just not the same as other debts. We’ll see when we get to that point though.
• Single Ma talks about making sacrifices. She’s right that it’s easy for many PF bloggers to write “spend less, earn more”, but we don’t consider the millions of Americans who are barely breaking even, if that.
• No Credit Needed challenges you to stop using credit cards. I’d like to, but we get 5% cash back on gas right now. However, we really limit our spending and make sure we pay off that balance every month.
• Dual Income, No Kids (DINKs) Finance gives 5 tips for paying off credit cards. Wow, I don’t need to worry about that now! Our CC debt is all gone! (except for the budgeted monthly usage, but the CC companies aren’t gonna get any of our money in interest!)
• Broke Student talks about robbing yourself of tomorrow to pay for today. Yep, following every one of her rules.