Mighty Bargain Hunter

The 50th Carnival of Debt Reduction

August 28th, 2006 | by mbhunter |

Welcome to issue 50 of the Carnival of Debt Reduction! As an extra feature I’ll highlight the great work that some of the posters have done at reducing their debt, gathered from various sources, like individuals’ blogs, the No Credit Needed Network, and the Money Blog Network Forums. This gets back to the original reason for starting this carnival: providing encouragement and support to those bold enough to blog about their debt reduction. (Note, “debt free” may or may not include mortgage debt.)

• Debt Free starts us off with three strategies for maximizing your financial success, including debt reduction.
• Blueprint for Financial Prosperity (debt free!) with seven strategies that help you stick to your budget and achieve your debt-reduction goals.
• Wenchypoo’s Warehouse wonders if debt reduction could be thwarted at the onset by not overbuying a home and furnishing it with only the best.
• Getting out of Debt provides “one more way to earn money to get out of debt.”
• Bryan C. Fleming with an interesting take on going toward saving and away from debt and credit cards.
• Free Money Finance (debt free!) on why cash-back credit cards are the best for most people.
• Getting Finances Done serves up a very detailed article on tracking your expenses — no doubt a key to getting spending under control to keep that debt in check.
• Taking Control over Money (reducing debt!) talks about which debt to pay off first. Three different methods are discussed, including a “gut-feeling” method. Keep up the great work!
• Free the Drones reports on the ancillary headaches of being in debt — abusive practices by debt collectors.
• Searchlight Crusade posts on how quickly you can refinance after purchasing a home. If you can reduce some payments to allow accelerated repayment of other higher-interest debt, go for it!
• My Money Forest (debt free!) with three money-saving tips that can help you reduce your debt.
• My Financial Awareness brings good advice to debt-reducers: Be Happy Now!
• Blogging Away Debt (reducing debt — paid off $9,304!) with a post on tighening the belt within marriage to pay off debt. Keep up the great work Tricia!
• American Inventor Spot with a post that’s marginally related to debt reduction but humorous nonetheless: Save money with really unimpressive generic soda.
• And here’s a great way to end the 50th Carnival of Debt Reduction: No Credit Needed with a recap of the day he paid off his $11,510.22 in credit card debt! You Rock!

Thanks for your submissions everyone! Now that you’ve seen how I’ve recognized those who are paying off their debt, if you want me to add your status — or if you want to host! — let me know.

The No Credit Needed Network hosts next week.

Questions tagged savings at Cash Commons:

• Automated Savings
• Should I pay down my debt of try to build an emergency fund in savings?
• What's the purpose of a mortgage offset account?