Carnival of Debt Reduction - August 10th Edition

In light of my current adventure I’ve been rereading “Walden” by Henry David Thoreau, which was published in 1845 and was struck by how much of his chapter on economy is still appropriate today. All the quotes in this carnival are from that chapter and all the photographs are from the beautiful countryside to which I have so recently moved. I hope you enjoy both!



I have no doubt that some of you are unable to pay for the dinners which you have already eaten, or for the coats and shoes which are fast wearing out.

Debt

Debt Goal reminds us that Debt and Employment are Related. He points out that some of the same skills that are required to reduce debt are needed when job seeking. It’s an interesting comparison.

Home equity loans can be a slippery slope. This week Fine Tuned Finances offers Borrowing Against Home Equity – The Dangers. Consider carefully before taking this step!

Nothing here about debt reduction just really incredible debt. Free Money Finance has a tale of A College Debt Nightmare, that is almost too bizarre to believe. See what you think.

Unlike the subject of FMF’s post, Christian PF is trying hard to get a paid-in-full student load debt cleared from his credit history and reports on his progress in Getting Credit Report Errors Removed. It’s an uphill slog but he’s persevering.

When getting out of debt and reviving your credit it’s important to know about Credit Card Scoring Variations: FICO vs. Vantage Score. Silicon Valley Blogger gives us the 411 on credit scoring.

Along this same theme, The Smarter Wallet discusses using Credit Monitoring Services to Check your Credit Report and gives a good review of several of these services.

Are you struggling with your mortgage debt? Banker, Saver gives us 4 Financial Tips to Weather the Mortgage Crises. These are some good, practical tips that everyone with a mortgage should keep in mind.



Most of the luxuries, and many of the so-called comforts of life, are not only not indispensable, but positive hindrances to the elevation of mankind.

Credit Card Debt

One Advice explains quite clearly the negative order of payment that many credit card companies use when it comes to applying your funds. Are You a Victim of the Credit Card Debt Trap? Read this informative article and find out!

Not much in the post but My Journey to Millions gives a quick link review of how he eliminated his credit card debt with Happy First Birthday to his blog. Congratulations!

Ask Mr. Credit Card relates the story of one of his readers who beat credit card debt in the True Story of A Guy Who Beat Debt. It’s certainly a wonderful feeling!

Balance transfers can be a useful way to help get high interest credit card debt under control. Credit Card Offers IQ asks that we consider Balance Transfers for Life Offers, which may be preferable to short term 0% introductory rates.



I have in my mind that seemingly wealthy, but most terribly impoverished class of all, who have accumulated dross, but know not how to use it, or get rid of it, and thus have forged their own golden or silver fetters.

Making More/Spending Less/Saving

In an excellent article Prime Time Money reminds us that Clean Finances, Clean Mind is a very relevant mantra. Since I arrived in my new home two weeks ago I still have not gotten my office organized. It’s really starting to bug me so this post hit home!

Do you and your significant other have seemingly opposing personalities? Debt Free Adventure explains how he and his wife use their differences to reduce their grocery bill in Grocery Hacks - How to Save Money on Groceries.

AutomaticFinances shares 7 Easy Ways to Save $100 or More Today. Maybe you can pick up some tips from Jason’s list. When you’re trying to get out of debt, every dollar counts!

Are we still worrying about keeping up with the Joneses? I’d hoped we’d learned that lesson but perhaps not. Financial Methods gives us a little reminder in Keeping Up May Set You Back. Get it?!

In another list post, Finance Tips 101 gives us 5 Simple Tips to Help You Save Money. If you’re battling debt and not attending to these areas, shame on you!

Finally and perhaps the most important lesson Thoreau has for us -

When man has obtained those things which are necessary to life, there is another alternative than to obtain the superfluities; and that is, to adventure on life…

Thank you for your excellent submissions this week! Don't forget to link to the carnival, give your co-authors a little attention, and spread the word through Twitter, Stumble Upon and/or in whatever other social networking communities you are active. Next week's carnival will be hosted by Debt Sucks. You can submit your article here.

Have a great week everyone and thanks for stopping by this week's carnival!