Comments on: You. Can. http://www.ncnblog.com/2008/08/29/you-can/ Debt Reduction Rocks - We Are Living Debt Free! Fri, 10 Feb 2012 00:09:10 +0000 hourly 1 By: Tax Leads http://www.ncnblog.com/2008/08/29/you-can/comment-page-1/#comment-216286 Tax Leads Tue, 07 Jun 2011 03:54:31 +0000 http://www.ncnblog.com/?p=1693#comment-216286 Look...it's all about making the commitment. The important part to note is that most people can't do it. Make a decision, get a game plan and stick to it. Look…it’s all about making the commitment. The important part to note is that most people can’t do it. Make a decision, get a game plan and stick to it.

]]> By: Stock Research http://www.ncnblog.com/2008/08/29/you-can/comment-page-1/#comment-128543 Stock Research Tue, 09 Sep 2008 23:29:23 +0000 http://www.ncnblog.com/?p=1693#comment-128543 Well done. Very inspiring. There is nothing like the power of a decision. Now you can move on to accumulation and wealth creation! Well done. Very inspiring. There is nothing like the power of a decision. Now you can move on to accumulation and wealth creation!

]]> By: Danielle http://www.ncnblog.com/2008/08/29/you-can/comment-page-1/#comment-128538 Danielle Tue, 09 Sep 2008 21:49:45 +0000 http://www.ncnblog.com/?p=1693#comment-128538 Thanks for the continued motivation! It helps me to see others that have acheived some of their big goals. @ Angie - It might be hard to un-remember that big debt number, but I started out just tallying up 1 thing, our unsecured credit card debt. I pretended like our student loans, car loan, mortgage etc did not exist... and just focused on one card at a time. Also as MoneyBeagle says, start keeping a few stats. Here are the stats I record each quarter: Savings 401K Balance Net Worth CC Debt Total Interest/mo paid on CC Minimum Payments on all CC After 11 months of just watching those numbers I also added Credit Ratio (mine is simplified to just CC Debt/available CC credit) Non-Mortgage Debt Sometimes even when you know you overspend your budget every month, and always end up with zero in the bank by the time pay day rolls around, seeing that Net worth number creep up, or savings and the CC interest and minimum payments decrease can keep you motivated to keep going. No offense to men, but this is one of the only ways I can quantify to my husband that our current scrimping and saving is paying off, not just in the long term but the short term too! When he gets discouraged I tally up some numbers to show him how much MORE of the money we put towards debt goes to principal now than it did 3 or 6 months ago. My husband and I also were working towards automating as much of our bill paying as we could. It didn't help our bottom line, but it helped our sanity, just as important if you ask me! You also might want to look into a simpler way of budgeting, google "60% Solution" and take the first link to an MSN Money page to learn more. I found I alwyas set up a budget of what we WERE spending, but can never set up and make targets about the future. There was too much flux in financial priorities from week to week and too hard to get on the same page with my husband. My 60% SOlution budget currently looks like... Bills and Commitments 65% (all these are % of the household gross income) Retirement 8% Emergency Fund 3% Short tem expense fund 4% FUn Money 3% Debt Repayment 17% Ideally it would be more like this (or a modified version if I had different priorities) Bills and Commitments 60% Retirement 10% Long Term Savings 10% Short Term Savings 10% Fun Money 10% Sorry for the long post, I guess I had a lot to say today... Thanks for the continued motivation! It helps me to see others that have acheived some of their big goals.

@ Angie – It might be hard to un-remember that big debt number, but I started out just tallying up 1 thing, our unsecured credit card debt. I pretended like our student loans, car loan, mortgage etc did not exist… and just focused on one card at a time. Also as MoneyBeagle says, start keeping a few stats.

Here are the stats I record each quarter:

Savings
401K Balance
Net Worth
CC Debt Total
Interest/mo paid on CC
Minimum Payments on all CC

After 11 months of just watching those numbers I also added
Credit Ratio (mine is simplified to just CC Debt/available CC credit)
Non-Mortgage Debt

Sometimes even when you know you overspend your budget every month, and always end up with zero in the bank by the time pay day rolls around, seeing that Net worth number creep up, or savings and the CC interest and minimum payments decrease can keep you motivated to keep going. No offense to men, but this is one of the only ways I can quantify to my husband that our current scrimping and saving is paying off, not just in the long term but the short term too! When he gets discouraged I tally up some numbers to show him how much MORE of the money we put towards debt goes to principal now than it did 3 or 6 months ago.

My husband and I also were working towards automating as much of our bill paying as we could. It didn’t help our bottom line, but it helped our sanity, just as important if you ask me!

You also might want to look into a simpler way of budgeting, google “60% Solution” and take the first link to an MSN Money page to learn more. I found I alwyas set up a budget of what we WERE spending, but can never set up and make targets about the future. There was too much flux in financial priorities from week to week and too hard to get on the same page with my husband.

My 60% SOlution budget currently looks like…

Bills and Commitments 65% (all these are % of the household gross income)
Retirement 8%
Emergency Fund 3%
Short tem expense fund 4%
FUn Money 3%
Debt Repayment 17%

Ideally it would be more like this (or a modified version if I had different priorities)

Bills and Commitments 60%
Retirement 10%
Long Term Savings 10%
Short Term Savings 10%
Fun Money 10%

Sorry for the long post, I guess I had a lot to say today…

]]> By: credit crunch http://www.ncnblog.com/2008/08/29/you-can/comment-page-1/#comment-128246 credit crunch Sat, 06 Sep 2008 14:14:18 +0000 http://www.ncnblog.com/?p=1693#comment-128246 I think theres a lot of people in the situation you where in, Being Debt has to be the way to live I think theres a lot of people in the situation you where in, Being Debt has to be the way to live

]]> By: Jon Kepler http://www.ncnblog.com/2008/08/29/you-can/comment-page-1/#comment-128149 Jon Kepler Fri, 05 Sep 2008 22:53:14 +0000 http://www.ncnblog.com/?p=1693#comment-128149 The great thing about debt is that it works both ways. Have you ever noticed how compound interest can pile up? When you're debt free and you issue loans (debt) to others, your profits pile up the same way. The great thing about debt is that it works both ways. Have you ever noticed how compound interest can pile up? When you’re debt free and you issue loans (debt) to others, your profits pile up the same way.

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