Forget a gift registry…try a debt registry!
Now, services like BillPayRegistry.com give your friends and family a way to help out with those pesky credit card, student loan, and auto loan bills. Create a registry of your unpaid bills, similar to a bridal registry. Send it out to your friends and family members, and receive contributions towards your debt as gifts for birthdays, holidays, weddings, or just because. Instead of another toaster oven or paring knife, get help toward building a stronger financial future.
Earn $1000 today
A penny saved is a penny earned, right? How many pennies can you save if you follow these 100 action items from Cesi Debt Solutions? Everything from blanketing your home’s water heater to buying quality pairs of tights (instead of cheap ones that don’t last) is on the list. Do an many as you can to see the savings pile up.
Have a no-spend weekend
Sometimes, your wallet, bank account, and checkbook just need a break. Give them one by opting for no-cost actitivities instead. The last suggestion on this list from Moolanomy may even earn you some extra cash to pay down existing debt.
When borrowing more means owing less
In some situations, consolidating debt makes sense. Consider debt consolidation once you have a repayment plan in place, and when you see an opportunity to pay a lower interest rate. Don’t make a habit out of balance transferring debt from one credit card to another, as that just moves the problem around instead of tackling it head on. CashMoneyLife offers some good advice for knowing when to pursue debt consolidation.
The debt debate: to buy or not to buy a new car
Does Kyle’s dilemma at SuburbanDollar sound familiar to you? Maybe you or your partner have been itching for a new car, even though you have run that runs perfectly (more or less) and is completely paid off, right in your garage. Which do you gravitate to more: an old car that is completely paid off that requires no monthly bills, or an awesome new car that is going to put you back into debt. We all know the “right” answer, but that doesn’t really help to quell the temptation of a supple leather interior, built-in MP3 player, and power locks and windows.
Bad government, bad!
The United States debt is the highest it’s ever been. The House of Representatives just voted to increase the debt ceiling in this country to $1.9 trillion. Yes, we know, there are Social Security and Medicare payments to be made. But, really? $1.9 trillion? (That’s 12 zeros in case you were wondering…)
Accept the challenge: 23 tips to eliminate debt
DoughRoller shares some tried-and-true steps on how to turn your financial situation around. They can be categorized into four categories: facing your debt, creating a plan, improving your credit to qualify for better interest rates, and simply spending less money. It’s not easy, and anyone who tells you otherwise is probably just making empty promises.