Comments on: Do you have any tips to get out of debt? http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/ Christian Personal Finance - Financial help, debt help and other financial resources Sat, 21 Nov 2009 08:03:07 -0600 hourly 1 By: poor boomer http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7726 poor boomer Thu, 13 Nov 2008 22:42:59 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7726 Cut all spending to the bare minimum. Rent out all available space in your home. (I live in a house with nine people.) Do you have any tips on how to earn money for those who can't land a job? Cut all spending to the bare minimum. Rent out all available space in your home. (I live in a house with nine people.)

Do you have any tips on how to earn money for those who can’t land a job?

]]> By: Craig http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7695 Craig Wed, 12 Nov 2008 20:55:37 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7695 You can try debt consolidation loans as one method. You can try debt consolidation loans as one method.

]]> By: rose http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7690 rose Wed, 12 Nov 2008 13:38:08 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7690 It seems there is no easy answer to getting out of debt except sucking it up and doing it! It's not fun, but the reward is worth it—just like most things in life. And determination goes a long way! I think another good tip is to just do what you can. If you goal is to pay it off fast, then don't spend anything outside of what you HAVE to spend. If it's just to eventually get out of debt and not accumulate more, then I am a firm believer in doing one step at a time—stop using the credit card. Master that and then start paying toward the debt. If you go in full force and you can't handle the discipline, you'll quit fast. When I get overwhelmed, that's what happens to me. I just stop working toward my goal and actually go backward. It seems there is no easy answer to getting out of debt except sucking it up and doing it! It’s not fun, but the reward is worth it—just like most things in life. And determination goes a long way!

I think another good tip is to just do what you can. If you goal is to pay it off fast, then don’t spend anything outside of what you HAVE to spend. If it’s just to eventually get out of debt and not accumulate more, then I am a firm believer in doing one step at a time—stop using the credit card. Master that and then start paying toward the debt. If you go in full force and you can’t handle the discipline, you’ll quit fast. When I get overwhelmed, that’s what happens to me. I just stop working toward my goal and actually go backward.

]]> By: Gholmes http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7670 Gholmes Tue, 11 Nov 2008 00:48:29 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7670 @Joshua This isnt about mathmatics, it is about someone staying with it. Debt snowball works for those that need motivation. You have to get sick and tired of living in debt. As you knock off each bill that is one less check/bill pay you have to do. @Joshua
This isnt about mathmatics, it is about someone staying with it.

Debt snowball works for those that need motivation. You have to get sick and tired of living in debt. As you knock off each bill that is one less check/bill pay you have to do.

]]> By: bob http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7669 bob Tue, 11 Nov 2008 00:36:25 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7669 Thanks everyone for sharing, I think I might turn these tips into a new post - so keep em coming! Thanks everyone for sharing, I think I might turn these tips into a new post – so keep em coming!

]]> By: Joshua http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7668 Joshua Tue, 11 Nov 2008 00:26:02 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7668 There are always a number of ways to decrease yor debt, but I will list a few here: * Contact creditors and negotiate lower rates * Reduce the "source" of the debt (ie; sell the car with the high loan note and buy a less expensive car) * Quit any vices you have (drinking, gambling, smoking, comic book collectinng ) and use that money to pay down debt * Change your housing situation if possible to one that is less expensive / take on a roommate ( again, the point is by saving on spending here, you use the money to pay off debt ) * Lower your insurance costs by increase your deductible and/or review your insurance policy and see if you can find a less expensive one * Regardless of what anyone says about debt snowballs, etc.... pay off the highest interest rate first. Mathematically, you come out better * Shop smart - pool coupons with others, plan a menu around what is on sale at the grocery store, buy in bulk if it is reasonable... etc.... And if nothing else... realize how you got into debt in the first place. If you can't learn from your mistakes, you are sure to repeat them. There are always a number of ways to decrease yor debt, but I will list a few here:

* Contact creditors and negotiate lower rates

* Reduce the “source” of the debt (ie; sell the car with the high loan note and buy a less expensive car)

* Quit any vices you have (drinking, gambling, smoking, comic book collectinng ) and use that money to pay down debt

* Change your housing situation if possible to one that is less expensive / take on a roommate ( again, the point is by saving on spending here, you use the money to pay off debt )

* Lower your insurance costs by increase your deductible and/or review your insurance policy and see if you can find a less expensive one

* Regardless of what anyone says about debt snowballs, etc…. pay off the highest interest rate first. Mathematically, you come out better

* Shop smart – pool coupons with others, plan a menu around what is on sale at the grocery store, buy in bulk if it is reasonable… etc….

And if nothing else… realize how you got into debt in the first place. If you can’t learn from your mistakes, you are sure to repeat them.

]]> By: Cyndie http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7671 Cyndie Mon, 10 Nov 2008 16:52:31 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7671 * part time job, * ebay -- something you make yourself (careful about how much your actual cost is), * ebay -- stuff around the house * ebay -- stuff you get cheap (I have a friend who shops garage sales for kids clothes and resells them on ebay) the normal cutbacks -- * cable, * cell phone (maybe change plans), * home phone (either ditch it or cutback to no long distance, no outgoing calls, etc., * internet -- switch to dial up, share with a neighbor, use the library * check your insurance rates, raise your deductible * part time job,
* ebay — something you make yourself (careful about how much your actual cost is),
* ebay — stuff around the house
* ebay — stuff you get cheap (I have a friend who shops garage sales for kids clothes and resells them on ebay)

the normal cutbacks –

* cable,
* cell phone (maybe change plans),
* home phone (either ditch it or cutback to no long distance, no outgoing calls, etc.,
* internet — switch to dial up, share with a neighbor, use the library
* check your insurance rates, raise your deductible

]]> By: Gholmes http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7662 Gholmes Mon, 10 Nov 2008 16:40:00 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7662 We posted our debt free goal on the Fridge. It was a graph and every time we paid on that goal we colored it in. Celebrate the small successes! Does help going thru with an accountability group to share success and struggles with. We posted our debt free goal on the Fridge. It was a graph and every time we paid on that goal we colored it in. Celebrate the small successes!

Does help going thru with an accountability group to share success and struggles with.

]]> By: MInTheGap http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7661 MInTheGap Mon, 10 Nov 2008 15:31:58 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7661 Strict budget, competitive shopping, and paying for routine purchases in cash. Keep off the cards-- it's too easy to go over. Strict budget, competitive shopping, and paying for routine purchases in cash. Keep off the cards– it’s too easy to go over.

]]> By: mjh http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/comment-page-1/#comment-7658 mjh Mon, 10 Nov 2008 14:07:38 +0000 http://www.christianpf.com/do-you-have-any-tips-to-get-out-of-debt/#comment-7658 I am a Crown Money Map Coach through my local church. If you are not able to find a friend who might help you, you could consider looking for a Money Map Coach. It's free. <a href="http://www.crown.org/ForChurch/Solutions/MMCoaching/MMCoachingMain.aspx" rel="nofollow">http://www.crown.org/ForChurch/Solutions/MMCoaching/MMCoachingMain.aspx</a> I am a Crown Money Map Coach through my local church. If you are not able to find a friend who might help you, you could consider looking for a Money Map Coach. It’s free.

http://www.crown.org/ForChurch/Solutions/MMCoaching/MMCoachingMain.aspx

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