• Posts Tagged ‘debt’

    Good Morning Cleveland!

    by  • July 3, 2007 • Tagged: ,  • Comments

    If you were up this morning at 5:15AM in Cleveland and listening to WERE 1300 AM, you heard us on the radio! We were honored to be interviewed by Dawnette Lounds – Culp on the radio show “Your Family Issues.” Dawnette is the author of The Face of Child Support and is the founder of ... Read more →

    What We Sacrificed to Get Out of Credit Card Debt

    by  • June 28, 2007 • Tagged:   • Comments

    Getting out of debt requires sacrificing the lifestyle you have become accustomed to. It’s not easy, and some people find that they are their own worst enemy when it comes to making sacrifices. It’s that lifestyle that got you into debt in the first place, after all. Having just paid off ALL our credit card ... Read more →

    All Quiet On The Financial Front

    by  • February 28, 2007 • Tagged: ,  • Comments

    Things are quiet. Very quiet. Since we’ve paid off the majority of our credit cards, we are only getting two credit card statements a month. By the end of the year we’ll only receive one. Our Saturday morning “pay the bills” time has been greatly reduced since all of our bills are on auto-pay. That’s ... Read more →

    Financial Milestone Reached! My Bad Debt Ratio Is Under 15%

    by  • January 22, 2007 • Tagged:   • Comments

    When I first added up all my debt in 2005, my Bad Debt Ratio was over 86%. Today it is 14.88%, slipping under the recommended maximum of 15% for the first time ever! What is a Bad Debt Ratio? This is the ratio of your total unsecured “bad debt” (excluding mortgage debt and student loan ... Read more →

    Future Outlook: Some Random Thoughts

    by  • November 29, 2006 • Tagged: ,  • Comments

    A few months ago, Her posted that we’d be free of credit card debt in 24 months. That was almost five months ago, so that would mean we have 19 months to go to pay off our credit card debt (I am a math GENIUS). Since then, we’ve quietly decided to put more money into ... Read more →

    Warning: Danger Ahead

    by  • October 18, 2006 • Tagged: ,  • Comments

    A lot of our readers want to know how I got so deep in debt. Didn’t I see the warning signs? Couldn’t I see there was a problem before we had a net worth of nearly negative $100,000? Unfortunately, it’s easy to be blind to what you don’t want to see. To help others who ... Read more →

    Debt Collection: A New Perspective

    by  • September 7, 2006 • Tagged:   • Comments

    Can you imagine owning a business where your customer’s aren’t paying, your bills are piling up, and you’re terrified you will either lose your customers or go bankrupt? This is the other side of the debt collection industry, and it’s a new perspective for me. Check out this great article from the LA Times, “It ... Read more →

    Less Debt Equals More Time, Happiness

    by  • August 22, 2006 • Tagged:   • Comments

    When Her and I first moved in together, we would get tons of mail. Credit card offers, store catalogs, and oh yeah, bills bills bills. We’d open up everything, shred the crap, and put the bills next to the computer so that we’d pay them the next time we sat down and worked on our ... Read more →

    Where NOT to Ask for Financial Advice

    by  • July 27, 2006 • Tagged: , ,  • Comments

    Recently on Slashdot, a reader asked this question: “I am a rising junior in college and decided to take out loans to cover all my costs so I could graduate with money in the bank. My tuition bill is minimal as I have a nearly full ride, but living is always expensive. With that said, ... Read more →

    June Net Worth

    by  • July 11, 2006 • Tagged: ,  • Comments

      May 2006 June 2006 % Change TOTAL NET WORTH -$90,945.05 -$84,918.71 6.6% Assets Savings $5,824.10 $9,821.97 68.6% Cash* $550.00 $550.00 0.0% His SIMPLE IRA $3,695.59 $4,186.59 13.3% His Roth IRA $6,174.57 $5,981.17 -3.1% His HSA $454.41 $837.09 47.5% Her 401K $6,625.53 $7,189.46 8.5% Her Roth IRA $1,504.00 $1,546.25 2.8% Upromise $62.97 $8.85 -89.9% Automobile ... Read more →

    Zero Credit Card Debt In 24 Months

    by  • July 11, 2006 • Tagged:   • Comments

    The end is finally in sight! This weekend we created a credit card debt snowball repayment plan and discovered that we can pay off all our credit card debt (almost $16,000 currently) by the time we get married! Here’s how we are going to do it, using the snowball method. For the next three months, ... Read more →

    75 Cents at 18.99% Please

    by  • July 1, 2006 • Tagged: ,  • Comments

    Coca-Cola is going to roll out vending machines that accept credit and cards. Not just that, but a touch less way to pay for a Coke using a credit or debt card. Because, you know, that’s exactly what we need. An effortless way to spend money, or worse, go in debt for a refreshing, calorie-ridden, ... Read more →

    Carnival of Debt Reduction XXXVI

    by  • May 22, 2006 • Tagged: ,  • Comments

    Welcome to the 36th edition of the Carnival of Debt Reduction! If this is your first time here, please follow the signs on the right directing you to a proper welcome page. This edition of the Carnival of Debt Reduction is all going to be in form of haikus! For those that don’t remember, a ... Read more →

    Spent $100, Saved $1,326.76

    by  • May 5, 2006 • Tagged: ,  • Comments

    Tonight we added an extra $100 to my monthly student loan payment. The interest rate on my loan is relatively high and cannot be consolidated because it is a private loan. I knew that paying some of it off early would save me years of interest charges, but I had no idea how much until ... Read more →