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Carnival of Debt Reduction: Tips via Twitter Edition

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Welcome to the Carnival of Debt Reduction, a traveling weekly roundup of the best articles in the blogosphere covering credit cards, consumer debt, mortgages, and the elimination thereof. Here is more information about the Carnival of Debt Reduction, founded by Mighty Bargain Hunter.

Through this past week, many bloggers submitted articles to be featured in today’s Carnival of Debt Reduction. What follows is the best of those submissions. Interspersed throughout the links to articles are short tips provided through Twitter. Twitter is a micro-messaging social media website. Last week, I asked the people who follow my updates to send a micro-message with their favorite debt reduction tip, and I’m included a few responses randomly throughout the Carnival.

Let’s start with the top six debt reduction articles.

The Silicon Valley Blogger kicks off today’s Carnival with the dos and don’ts of reducing debt, gleaned from her own experiences with debt elimination.

@MillionMommyND‘s debt reduction tip: “Create a wall chart and update it weekly. Keep an eye on your goal and focus on driving the line on your graph consistently downward.”

Can a housing assistance program help prevent foreclosure and assist with housing debt elimination? The Smarter Wallet explains where to look within the federal government for assistance, if you qualify and if the programs operate as advertised.

Lately, a number of banks are shoring up their own finances by closing credit card accounts that have been inactive. PFR from Personal Finance Reviews explains what to do when your credit cards are closed due to inactivity.

@bargainr‘s debt reduction tip: “freeze cards, pay everything cash until you’re cc debt free.”

The Happy Rock explores what it means to “live within your means” with his recent article, As Long as You Can Make the Payments, You’re Fine. Don’t judge the article by it’s title, however.

The Military Finance Network fields this question: Will my credit cards affect my ability to get a car loan? PatrickCML explores the effect of credit scores on loan qualification and the best use of credit cards to maintain a high credit score.

@banker_girl‘s debt reduction tip: “Downsize your residence.”

Christian from Our Personal Finances explains how his family must start rearranging their finances to thrive with only one income for a time. While living below their means previously, they’ll need to make some choices; namely, whether to liquidate retirement savings to eliminate the mortgage, easing the stress on other living expenses.

@jeffrosecfp’s debt reduction tip: “Stop viewing new purchases as “It will only cost this much per month”. If you can’t pay cash, don’t buy it.”

Continue reading the Carnival of Debt Reduction for more of the best from the blogosphere and Twitter.

At Art of the Coupon, Coupon Artists keeps things in perspective when managing frustration with money goals.

Michael Geoffrey explains the importance of reviewing your expenses with a fine-tooth comb in order to take action as part of his 5 Simple Steps To Making Your “Get Out Of Debt” Resolution Stick at Debt Smackdown.

@MoneyMatters‘ debt reduction tip: “Make debt reduction fun by rewarding yourself with something small when you pay off each debt.”

An amortization calculator emphasizes the need to pay more than minimum required amounts to pay off your debt, according to The Financial Blogger from TheCreditToolBox.

Green Panda Treehouse suggests you consider a part-time job to help jumpstart your debt reduction.

@Green_Panda‘s debt reduction tip: “My tip: Focus on one debt at a time. If you focus on everything, you’ll do nothing.”

Free Money Finance explains MP Dunleavey’s suggestions drawn from her own experiences for paying of $30,000 of debt.

Should you tithe while you are trying to get out of debt? Does God expect you to contribute money to your religious organization while you are struggling to make you own ends meet? Bob from Christian Finances believes that the answer is yes.

@sublingual‘s debt reduction tip: don’t read catalogs you get in the mail.”

If you resolve to forgive yourself this year of your past spending transgressions and indescretions, Saver Queen says you will have an easier time tackling your debt.

@brettmorrison‘s debt reduction tip: “It is dead simple: Spend less than you make. Build an emergency fund. Snowball payoff the debt. Only 95 characters required.”

Tyler Metzger from Taking Charge explains how traveling with a credit card is almost a requirement.

@nodebtplan‘s debt reduction tip: “Set up a budget to learn how much money you need and adjust spending accordingly. Use your new free cash flow to pay off debt faster.”

You can achieve debt elimination in five simple steps by reading and enacting the Debt Freedom Fighter’s tips on Discover Debt Freedom.

@curtisfinancial‘s debt reduction tip: “Sign up for and set a goal to reduce spending on one of your problem areas..clothes, dining out, toys, etc.”

“Credit cards were not created to be a life support system.” Credit Card Assist warns readers not to start living off credit cards.

@SimplyForties‘ debt reduction tip: “Track every penny! If you don’t know where your money is going, you can’t redirect it.”

Destroy Debt from I’m in Debt has four tips for turning your frown around when debt gets you down.

If your New Year’s resolution is to get out of debt, share your resolution with others. Scott Crawford from DebtGoal explains that sharing your goals will increase the likelihood of reaching those goals.

@fcn‘s debt reduction tip: “Build up an emergency fund so you can stop using credit entirely until you get you debt under control.”

Debt Free Destiny presents 10 Excellent Reasons You Need to be Debt Free Today.

Kevin from Rich Credit Debt Loan includes elimination of credit card debt as one of six steps for getting on the right financial track.

@LazyManAndMoney‘s debt reduction tip: “Sell unnecessary stuff. Stop buying new stuff. Use FreeCycle. Enjoy Ramen. Sell cars of big value. Pick up klunkers. Need more tips?”

J. Money is astounded about how much of his family’s “$exy” money goes to debt. Take a look at Budgets are Sexy..

@misformoney‘s debt reduction tip: “Embrace the DIY ethic, don’t pay others for things you can do yourself.”

Getting out of debt, whether credit card debt, mortgages, or car loans, is a popular financial resolution, as Miss M points out at M is for Money.

@MyDollarPlan‘s debt reduction tip: “Every time you send in a payment, pick your amount and add $10 more!”

@SunFinancial‘s debt reduction tip: “Pay more than the minimum.”

Blanchard Warren presents A Debt Elimination System You Can Use posted at Timely Books. For an alternative, that offers the opportunity of getting you out of debt faster and cheaper, is the Debt Avalanche.

The snow metaphor doesn’t just apply to debt. Mike from The Thrifty Life explains how snowflaking your way to an emergency fund will help you stay on the debt elimination path.

@Lynnae‘s debt reduction tip: “Snowflake money you save by using coupons. Sell books on Cut up the cards.”

Abby Freedman is from I Pick Up Pennies not convinced that Americans have learned their lessons from the recent financial collapse and are now spending less and eliminating debt.

@extremejacob‘s debt reduction tip: “Debt reduction in a nutshell. Realize that most advertised “needs” are actually wants. Spend less. Use the difference to pay it off.”

Thank you to everyone who participated in the Carnival of Debt Reduction this week, included those who sent me their one-line debt reduction tips via Twitter. To find out about next week’s Carnival of Debt Reduction, visit

Updated January 1, 2018 and originally published January 12, 2009.

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About the author

Luke Landes 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 Luke Landes and follow him on Twitter. View all articles by .

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{ 10 comments… read them below or add one }

avatar 1 Anonymous

It amazes me how much Twitter is really blowing up! Thanks for a great carnival Flexo.

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avatar 2 Anonymous

Thanks for the link. Nice job!

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avatar 3 Anonymous

Thanks for hosting! The twitter tips add a nice touch. :)

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avatar 4 Anonymous

Thanks for including me in the carnival. This is really an excellent and thorough list of recent posts and tips. The twitter tips are great!

Mike @ TheThriftyLife

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avatar 5 Anonymous

haha yeah, gotta love some Twitter these days. very creative, well done :)

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avatar 6 Anonymous

Cool Carnival flexo, thanks for including me.

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avatar 7 Anonymous

Thanks for hosting the carnival and including my article!

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avatar 8 Anonymous

Thanks for hosting Flexo. Very clever! Tweet on!

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avatar 9 Anonymous

Wow. Love the Twitter carnival and so bitter that I somehow did not glance over it!! Great work, we should have more twitter carnivals! Creativity in its purest sense!

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avatar 10 Anonymous

This is awesome! Thanks for a great carnival, Flexo, and for letting me kick it off! I must be really behind it though as I still haven’t joined the Twitter revolution in a big way. These days, I’m becoming more and more of a late adapter to what’s out there. Must. change. :)

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