Mighty Bargain Hunter

It’s a Labor Day Carnival of Debt Reduction

September 1st, 2008 | by mbhunter |

Happy Labor Day everyone!  Labor Day originated in 1882 when the Central Labor Union of New York City sought a day off for those who work.  It became a US federal holiday in 1894; its official day is the first Monday in September.  Even though many once considered it taboo to wear white clothing after Labor Day, this was not the original intent: it was white shoes that were not to be worn after Labor Day, purely for reasons of etiquette.

Anyway, here are this week’s submissions.  Enjoy!

Personal debt reduction stories

• My Daily Dollars reviews what’s happened over the past six months with her debt reduction.

Debt reduction articles

• Think that using a debit card is a cure-all for debt problems?  Master Your Card warns about extra fees that crop up with the use of debit cards.
• Destroy Debt talks about preparing for a debt-free 2008 holiday season.
• Discover Debt Freedom explains why save to spend is a great idea.
• Money Answer Guy gives a number of good tips on getting on solid financial ground.  One tip is to reduce your debt.  (Surprise, surprise!)
• The Moral Collapse of America dishes out what’s wrong with America — most of which I agree with.  The debt point is #7.
• Fiscal Liberty has a few quick tips on getting rid of credit card debt the smart way.
• Early Retirement Extreme tells how he would get rid of debt, if he had any.  (Heh, I run this carnival and it’s never stopped me either.)
• Five Cent Nickel readers suggest that a person upside-down on his condo start paying it off.
• Blueprint for Financial Prosperity fires up his flaming chainsaws to fight debt collectors.
• My Debt Refinance gives five steps to a debt-free life.
• Tough Money Love explains a few subtleties regarding mortgage payment grace periods.

Cutting expenses to reduce debt and related topics

• On a Quest to be Debt Free talks about three ways that shopping for medications has changed.  Saving money on the necessary expenses has changed a bit.
• Super Gas Saver gives some money-saving tips specifically for diesel vehicles.
• Tax deductions are always a good way to reduce expenses for debt reduction but My Journey To Millions warns not to be too enthusiastic with deducting education loan interest.
• KCLau describes what bankruptcy is and how to avoid it.  (Try debt reduction first!)
• Bible Money Matters reminds us to take advantage of warranties if our stuff goes bad, but maybe not so far as to buy more warranty.  (Basically, if it’s paid for and it’s there, use it!)
• Free Money Finance explains how to really get your credit report for free.
• American Consumer News talks about managing expenses if you haven’t gotten rid of that credit card yet.
• Digerati Life elaborates on saving on wedding expenses.  A wedding can be a big debt-increaser, so watch out!
• The Smarter Wallet gives a few tips on lengthening the life of clothes.
• The Personal Financier gets us thinking about the value of our spare time.
• Money Ning has six neat ways to build up your emergency fund.  (Having an emergency fund is just as important as reducing your debt.)

Next week the Carnival will be at the Carnival of Debt Reduction homepage.

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?