Comments on: How I Plan To STAY Out Of Debt http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/ Debt Reduction Rocks - We Are Living Debt Free! Sat, 21 Nov 2009 11:44:22 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: grimwomyn http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-99368 grimwomyn Thu, 03 Apr 2008 19:44:42 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-99368 I just stumbled this and love the site... I personally feel that in the interest of caring for a child, you must do all that is necessary to help them get a start in life which is why I opened a 529 account for her three years ago when she was 2! Also- an accountant friend of mine told me to NEVER finance a car, to ALWAYS pay cash upfront as it is a depreciating asset, if that means really nice used cars-- so be it-- just my 2 cents-p I just stumbled this and love the site…

I personally feel that in the interest of caring for a child, you must do all that is necessary to help them get a start in life which is why I opened a 529 account for her three years ago when she was 2!

Also- an accountant friend of mine told me to NEVER finance a car, to ALWAYS pay cash upfront as it is a depreciating asset, if that means really nice used cars– so be it–

just my 2 cents-p

]]> By: I Have Been A Debt-Free Blogger For Two Years http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-84891 I Have Been A Debt-Free Blogger For Two Years Fri, 08 Feb 2008 23:09:01 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-84891 [...] How I Plan To Stay Out Of Debt [...] [...] How I Plan To Stay Out Of Debt [...]

]]> By: (Almost) Everything I Know About Debt Repayment! http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-26384 (Almost) Everything I Know About Debt Repayment! Thu, 02 Aug 2007 19:18:11 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-26384 [...] Finally, here’s how I plan to STAY our of debt. 9 [...] [...] Finally, here’s how I plan to STAY our of debt. 9 [...]

]]> By: Debt Blitzkrieg » Blog Archive » How about that emergency fund? http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-3928 Debt Blitzkrieg » Blog Archive » How about that emergency fund? Wed, 28 Mar 2007 08:35:57 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-3928 [...] Year! Emergency Funds: How and Why You Should Get Started Right Now Automate Your Emergency Savings How I Plan To STAY Out Of Debt Non-Millionaire’s Guide to [...] [...] Year! Emergency Funds: How and Why You Should Get Started Right Now Automate Your Emergency Savings How I Plan To STAY Out Of Debt Non-Millionaire’s Guide to [...]

]]> By: No Credit Needed Blog » Blog Archive » Money Blogger Podcast: Author Agrees With NCN? http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-2972 No Credit Needed Blog » Blog Archive » Money Blogger Podcast: Author Agrees With NCN? Wed, 21 Mar 2007 04:19:40 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-2972 [...] Can you/should you pay cash for automobiles and homes? (My thoughts…) [...] [...] Can you/should you pay cash for automobiles and homes? (My thoughts…) [...]

]]> By: MiserMan http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-1032 MiserMan Thu, 22 Feb 2007 03:36:54 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-1032 Out of debt forever sounds great! You've got save money in order to do that. http://www.stopspendingmoney.com provides some great ideas. Check it out - you can post your personal story on their blog. Out of debt forever sounds great! You’ve got save money in order to do that. http://www.stopspendingmoney.com provides some great ideas. Check it out – you can post your personal story on their blog.

]]> By: af http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-912 af Mon, 19 Feb 2007 22:13:10 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-912 Just keep in mind that, as of 2007 financial aid guidelines, you would be expected to contribute 20% of savings and investments in the child's name and only about 6.5% of savings and investments in the parent's name. Just keep in mind that, as of 2007 financial aid guidelines, you would be expected to contribute 20% of savings and investments in the child’s name and only about 6.5% of savings and investments in the parent’s name.

]]> By: The Carnival of Debt Reduction #75: Quick Picks → We’re In Debt http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-895 The Carnival of Debt Reduction #75: Quick Picks → We’re In Debt Mon, 19 Feb 2007 13:43:49 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-895 [...] NCN has a great article on debt avoidance. [...] [...] NCN has a great article on debt avoidance. [...]

]]> By: Carnival Of Debt Reduction #75: The Diamond Jubilee Edition » Money, Matter, and More Musings http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-884 Carnival Of Debt Reduction #75: The Diamond Jubilee Edition » Money, Matter, and More Musings Mon, 19 Feb 2007 08:25:08 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-884 [...] How I Plan To Stay Out Of Debt by NCN @ No Credit Needed: This article is more about debt avoidance. It is directed towards people who get out of debt, but sooner or later go right back in because they don’t have a clear plan on how to steer away from debt. Always remember, prevention is better than cure; stop that debt before it gets you again. [...] [...] How I Plan To Stay Out Of Debt by NCN @ No Credit Needed: This article is more about debt avoidance. It is directed towards people who get out of debt, but sooner or later go right back in because they don’t have a clear plan on how to steer away from debt. Always remember, prevention is better than cure; stop that debt before it gets you again. [...]

]]> By: Gooey Debt http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/comment-page-1/#comment-746 Gooey Debt Fri, 16 Feb 2007 08:35:10 +0000 http://www.ncnblog.com/2007/02/13/how-i-plan-to-stay-out-of-debt/#comment-746 NCN, I'm glad you wrote about post-debt planning. I was going to write something, since I've been commenting in other's blogs about there not being enough post-debt planning posts. It does no good to get out of debt and not have a plan. Especially when you see that you have all this money around. The temptation is too great to revert to old habits and relapse into debt. Relapses are bad, because you always relapse harder. Something psychological about having succeeded once in getting out of debt so being further in debt won't be an issue to climb out of either. I've been contemplating setting up a college fund for our children, although we have do not have any yet. I struggle with whether this is a wise idea and what kind of signal it will send to my child about having the safety net of college funds. I'm against using RIRA to purchase a home. Your retirement savings is your retirement savings. If you want to purchase a home, then you should allocate funds toward it. Unless you aren't planning on purchasing a home until after your retire, I do not see any benefit from saving for a home in some other investment. NCN, I’m glad you wrote about post-debt planning. I was going to write something, since I’ve been commenting in other’s blogs about there not being enough post-debt planning posts. It does no good to get out of debt and not have a plan. Especially when you see that you have all this money around. The temptation is too great to revert to old habits and relapse into debt. Relapses are bad, because you always relapse harder. Something psychological about having succeeded once in getting out of debt so being further in debt won’t be an issue to climb out of either.

I’ve been contemplating setting up a college fund for our children, although we have do not have any yet. I struggle with whether this is a wise idea and what kind of signal it will send to my child about having the safety net of college funds.

I’m against using RIRA to purchase a home. Your retirement savings is your retirement savings. If you want to purchase a home, then you should allocate funds toward it. Unless you aren’t planning on purchasing a home until after your retire, I do not see any benefit from saving for a home in some other investment.

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