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Carnival of Debt Reduction #32

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Welcome to the Carnival of Debt Reduction #32! In this Carnival, we highlight entries pertaining to getting out of debt, a lofty goal attempted only by some. When getting out of debt becomes a priority, everybody benefits… well, everyone other than shareholders of companies who make their money off of charging people to borrow. Perhaps eventually these companies will have to find a new business model.

Anyway, here are the submissions:

Free Money Finance at Free Money Finance presents How Much House Can I Afford? Purchasing a house you cannot afford is a surefire way of staying in debt, antithetical to this Carnival’s mission.

David Porter presents The FHA Modernization Act posted at Pacesetter Mortgage Blog. This is a call to action to change the way the lending business operates, and it’s about sub-prime lending.

The Family CEO presents a book review of Pay It Down! by Jeanne Chatzky, posted at The Family CEO. Check out the blog for her verdict.

Jose Anes at Money and Investing presents Blog For Debt. All of Jose’s blog earnings go directly to pay off his debt. Do yours? Mine don’t.

Speaking of using certain funds to pay down debt, Amanda at Young and Broke presents Most People Are Practical? In the article, Amanda reacts to a survey that claims 11% of people receiving tax refunds will use the money to pay off debt.

Jon Tillman at Silent In The Morning presents Financial Goals. Paying off debt is a major part of Jon’s financial plan.

Mbhunter at Mighty Bargain Hunter presents Debt reduction when you’re upside down. Owing more on your mortgage than your house is worth is a risky situation. Read mbhunter’s tips for some suggestions for paying down debt.

Harrison Loke at Journey To Financial Freedom presents Consolidate your debt using home equity loan.

Tricia at Blogging Away Debt presents Keeping Motivated to Become Debt-Free. Motivation is an important part of reaching a debt-eliminating goal. Here are ten great tips for motivation. Now get to work!

NCN at No Credit Needed presents step 4 of his series, How To Get Out Of Debt. NCN advocates paying down the loan with the smallest balance first, which provides a psychological boost, opposed to paying down the loan with the highest interest rate first, which saves you money in the long run.

There were some off-topic submissions. Please try to keep all submissions to the Carnival of Debt Reduction on the topic of debt. Here are the Carnival’s schedule and guidelines, so take a look if you’d like to participate or host. Next week’s Carnival will be hosted by Free Money Finance.

Quickly, here are the off-topic submissions:

IRS error in your favor posted at Don’t Mess With Taxes

Guilty as Charged: Fifteen Free Coffees posted at Canadian Financial Stuff

What are you doing to save gas? posted at It’s Just Money

Updated December 20, 2011 and originally published April 24, 2006. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

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{ 2 comments… read them below or add one }

avatar mbhunter

Great job Flexo. Thanks for hosting!

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avatar Sakshi

I remember, my friend had got into debt when he was a student. Debt consolidation service proved highly benefitial for him.

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