What is Staying out of Debt?

First thing first, I need to lay down the purpose of this site. This site is mainly for informative purposes. All information given on this site is at your own risk, every situation is  different.

What this site is:

  • A blog for my financial failures/successes
  • A resource for financial tip
  • And a place to post random information I may find

What this site is not:

  • A political blog (Ok, some politics just in relation to finance, but nothing else)
  • Financial Advisers  (I’m not a professional, my specialty is computers and business

I also plan to use this site to track my financial progress. I plan on posting at least three times a week for the first two months and see how I go from there. If it takes off I will post more, if not then I will close this site down in a year. I enjoy the readers questions from The Simple Dollar and I also enjoy how JD Roth from Get Rich Slowly would post about his personal finance and his debts and if I’m correct he even posted records showing his debts.

Welcome to Staying out of Debt. I hope you enjoy it here in the coming months. Just post a comment and tell me what you would like to read here. I plan on posting my idea for getting out of debt in the coming weeks.

29 thoughts on “What is Staying out of Debt?

    • Thanks John, I just hope I can learn more about this topic, and help others. I myself read several finance blogs and I’m sure I’ll need some help on the way for content and site management.

      • I am unfortunately in a cnedet amount of debt. I have a relatively new car, with high interest, as well as about $6000 of student loan debt. We are slowly but surely paying these off. We are ahead on both payments and are doing pretty well keeping it that way, considering we are both unemployed with 2 infants to raise. I am hoping to talk my husband into putting a large amount of our tax return towards paying down some of this debt and having it all paid off within 5 years. After that we will probably get a loan for a house, but will aim for one well under what we can afford, so if we fall on hard times, it won’t be as big a problem.

        • Natasha Posted on Thank you for sharing your story. I’m sorry you are in pain, it’s very very difuicflt. Try to stay positive and move forward. Peace and blessings, Natasha

        • Since researching for a short time to get a great coentnt articles pertaining to this point . Checking out in Google I finally picked up this blog. After reading these details I’m just glad to enunciate that I’ve got a really good impression I discovered whatever I wanted. I most certainly will ensure to don’t forget this web site and take a visit consistently.My website is .

      • Shred, burn or place credit cards in a safe dipesot box. Notify the credit card company not to send any more cheques for balance transfers or loans. Live within your means. Instead of going to the movies, rent a movie and watch with friends. Eat meals prepared at home and not from a box. Always make a list before going shopping. Prepare a menu. Purchase only what is on the list. Make a monthly/ weekly budget and allot money for utilities-food-auto-etc. Keep cash for each week and when the money for the items and the week is gone, that’s it. Buy items from Goodwill and yard sales instead of new, but depends on the item. Start eBaying anything you have but don’t really need. Pay extra on the credit card with cash advances first. Pay the lowest card off first, then you have additional money to pay on other cards. Do things for yourself that you usually pay others to do. Allow yourself to spend $10 at a dollar store once a month if you really are a shopaholic.

      • Nope. Most charge aslineny high fees and most don’t work. You are only going to improve the situation by actually paying attention to your finances. If your situation is dire try Dave Ramsey. He’s hard core but his plan works but only if you grow up and get serious.

    • I can truly say I am debt free: no mortgages, no car pyeamnts, etc. I am a married women. Jerry is a man who believes in being a good stewart and had the drive to keep us out of debt. We strove to pay off the mortgage early, which we did because we were frugile with the way we live. I believe G-D wants us to take care what He has given us. He will provide means for us to enable us to be successful in all areas of our lives which includes financial. We aren’t suppose to lean on what we can do for ourselves, but what we can do through Him. When He provides us with little and we can manage that, then He can trust us with much, much more. Not only are we to be good stewarts with money but with all areas of our lives. I wish you well in this task. Trust Him and He will provide and lean upon Him for all understanding.

      • I’m not sure if “Debt Consolidation Loan” is the right term here…unless you’re talking about a ctoelemply different product than I’m familiar with (which is entirely possible) But this sounds a lot like a Debt Management Program – which is what I am enrolled in.In the beginning they contacted my creditors and negotiated a monthly payment and a lower interest rate (which allows for more of the payment to go towards the balance instead of interest).I pay them the combined payment, and the disperse the payment then to the creditors. The creditors expect a payment every 30 days. As long as you make the payment to the Debt Management provider on time, the creditors should be happy.The credit lines are closed by your creditors in exchange for the benefits of being in a DMP.The estimated time of my program is 5 years (I’ve almost got 2 behind me) – at the end of that 5 years all my credit card debt will be gone….I have no idea how long it would have taken if I would have just paid the minimums with the “standard” interest rate.

    • I was debt free until I bought a home a year ago. I’m ieddcated to paying off that mortgage well before the 30 years are up. I’m doing the Crown Financial Ministries Bible Study right now and last week was on debt. If you keep a home mortgage for 30 years, you will end up paying 2-3 times the value of the original mortgage by the time you are finished! That means you are paying more in interest than the amount you originally took out.Proverbs 22:7 says Just as the rich rule the poor, so the borrower is servant to the lender. I want to be financially free to serve the Lord however He calls! Once debt is paid off, we will be free to give even more generously or work for free for a ministry if God called us to do that. We are working agressively toward that goal.

    • 16a12b352c0hello there and thank you for your information e28093 I have ctniaerly picked up anything new from right here. I did however expertise some technical issues using this web site, as I experienced to reload the website lots of times previous to I could get it to load correctly. I had been wondering if your web host is OK? Not that I am complaining, but slow loading instances times will sometimes affect your placement in google and can damage your high-quality score if ads and marketing with Adwords. Anyway Ie28099m adding this RSS to my email and could look out for a lot more of your respective intriguing content. Make sure you update this again very soon.. 187

      • Elia Perez Posted on Kim thank you! Lupus is not the end of the world. I fight and challenge myeslf daily. Sometimes to the point of exhaustion, but I NEED to squeeze everything I can out of my days! I have always been like that. To my family it is more significant now the cotributions I make to our family. Stay strong Sis!

      • Nope. There might be other business meolds, but the usual one works like this: they negotiate a payment plan with your creditors. between all the creditors they might come up with a plan in which you pay a total (split among the various creditors) of, for instance, $150.00 per month. They charge you something like $210.00 per month. They pay the creditors the 150 and they keep the difference. I wouldn’t say its a rip-off. The service they provide you is keeping the creditors off your back, not hauling you into court, etc. But you do have to pay for that service.References :

    • See if you can transfer the cnbaale from one account into another with a lower rate. I just did this today from an account with a 5.99% rate to one with a 1.99% rate. It will save me $70 in interest over 7 months (after the fee to transfer), which doens’t sound like much, but it is a start. I will then transfer it again in Early September to another acount with a low rate. Also, if my minimum payment is $100, I try to pay $150 it adds up. If you can lump all your accounts into 1 single payment on one account (hoping you have one card with that high of a limit), it actually pays it off faster as you are applying the payment to the single account instead of paying minimums to 3 accounts.The other option is finding a lower rate personal loan. Banks like Bank of America have them at around 8.9%, so if you have credit cards with rates higher than that, this may be a better option.Good Luck

      • I have seen an improvement in speed but, only soimtemes. I have noticed that when I have a lot of tabs open(say 10 or so) then, my computer slows down dramatically. Not sure why. Wouldn’t mind some insight.

    • You can’t, the credit card mnpcaoy determines which part of the debt gets paid off first, and guess what, they always choose the low interest portion.

      • Posted on She’s an exceptional figehtr, and a very strong person. I’m very proud of her, and glad of being by her side loving and supporting her. <3

    • You can’t, the credit card canopmy determines which part of the debt gets paid off first, and guess what, they always choose the low interest portion.

      • A lot depends on the agceny. Most of them do charge a small fee, but be very careful a lot of them also don’t do what they claim and you end up in worse shape than when you began. Another thought on this, are you aware that using a credit counseling agceny affects your credit negatively anyway? Most creditors see it as you not being able to handle your own debts and are considered a high risk debtor. It is comparable to filling a re-organizational bankruptcy and has the same effect on your credit.This is something that you can do for yourself for free as well if you are willing to spend a little time learning the law and doing the legwork and if you do it yourself, then it doesn’t affect your credit history quite so bad.

  1. Posted on I’ve been absent for a while, but now I eerembmr why I used to love this site. Thanks , I will try and check back more frequently. How frequently you update your web site?

      • In most places , being mairerd means joint finance responsibility .If you were mairerd , You are probably legally responsible .Unless you can prove that you had already filed for divorce at the time the debt was incurredAnd published a note in 3 newspapers saying that I ( jane doe ) will no longer be responsible for any of my spouse’s ( john doe ) debt from this day forward .Had you filed for divorce and did you publish the Not Responsible Notice ?>

  2. I would save cause with the savings you can ayalws put $ on what you owe, but if you pay what you owe and then you run into a hard spot you can’t call them and say hey you know that payment that I made 5 months ago you know the one for 1000 could I possibly have it back? I need it!as long as you pay something each month they can’t send you to collections and if you are already in collections as long as you offer them something each month (even if it 5 bucks) they can’t harass you!my credit is horrid! Your not alone .References :

    • Linds Posted on my only thought on the color scmhee is Jesus loves His enemies? swell pics, bro very swell. (ps- you should feel special. your blog is pretty much the only one i ever check regularly.)

  3. Absolutely Debt.I look at it like this Say you have 5000 of debt at 11.99% interest rate.If you are mainkg minimum payments your probably paying just the interest every month and your 5000 will never go down. If you “save” money rather than paying off debt the money you save will cancel out the interest that accumulates on your debt leaving you throwing money down the tubes.References :

  4. It would really deepnd on the intrest rate. How much Debt can you actually pay off before the baby? cause If you can get rid of at least one or two bills a month, then do that, if you can only pay DOWN debt, save you want to try to make your cost of living WAY below your income, we live by the 10-10-80 rule which is, Tithe 10%, Save 10% , and Live on 80% of you income.References :

  5. You can’t, the credit card cmpoany determines which part of the debt gets paid off first, and guess what, they always choose the low interest portion.

    • well you could borrow the money from some other soucre the soucre would make a check payable to chase and the other folks you owe money to but do not fall in the trap a lot of folks do!!! the are out of debt except for this one big debt and than they take there credit cards and go on a spending junket!!!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>