Welcome to the 19th edition of the Carnival of Debt Reduction, dedicated to posts that inspire or help us to get rid of debt. Last week’s edition was hosted by Frugal For Life.
Without further ado, here are the highlights:
Pay Down That Debt With Your Tax Refund: Investing Intelligently shows how to reduce your debt by regularly applying your tax refund to the principal.
Since you didn’t get what you wanted at Christmas… Canadian Financial Stuff says that retailers are trying to pump up their January sales by enticing you to squander more money on things you “wanted” for Christmas. Don’t fall for it.
Canadians Spending Beyond Earnings: Centrerion considers Statistics Canada data on Canadians’ debt load and Stephen Harper’s GST reduction plan. A follow-up to an earlier post on calculating the GST tax break under Harper’s plan.
Contractions: Critical Mastiff recommends that we must begin to pay down our debts before it is too late, as Japan’s contracting population will have a dire effect on everyone.
Beware Credit Cards Bearing Gifts: Free Money Finance warns that there is a new credit card in town and while it may seem like a good deal, it really is not.
Loan Qualification Standards – Loan to Value Ratio: Searchlight Crusade warns not to get into debt trouble by paying attention to the loan-to-value ratio.
The Best Laid Plans: Below The Beltway points out that the comprehensive bankruptcy reform legislation passed by the US Congress has accomplished nothing.
The Danger of Cash Flow Thinking: Early Riser discusses the pit falls in forgetting net worth and blindly focusing on cash flow.
The Month at the end of the Money: The Common Room has a trick to improve your spending and saving habits.
Fiscal Fitness at Library: Frugal For Life says that even little papers have some good information that may help you get off on a good start to reducing debt and saving some money.
A 5 Step Strategy for Getting Out of Debt: AllThingsFinancial looks at Loral Langemeier’s (author of The Millionaire Maker) debt reduction formula in A 5 Step Strategy for Getting Out of Debt.
Lowering Credit Card Interest Rates: Personal Finance Advice says that it pays to call your credit card company and ask for a better interest rate. Often, if you ask, you will get a better rate.
Be Wary Of Tricky Credit Card Offers: MyMoneyBlog says that even if you are just trying to get a new credit card to lower your overall interest rates, be careful of the fine print and provides an example of some tricky wording.
Cash Back Credit Cards: No Credit Needed has nothing but disdain for cash back credit cards. He is also offering a brand new personal finance podcast.
Bad debt leads to good credit? Retire at 30 argues that reducing debt is fine, but as he recently learnt, doing everything right sometimes includes taking on some bad debt to build credit history.
Next week, tune in to Consumerism Commentary for more debt reduction ideas.
