Comments on: How To Stay Out Of Debt http://www.ncnblog.com/2009/09/24/how-to-stay-out-of-debt/ Debt Reduction Rocks - We Are Living Debt Free! Thu, 18 Mar 2010 08:26:02 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Debt Advice http://www.ncnblog.com/2009/09/24/how-to-stay-out-of-debt/comment-page-1/#comment-176429 Debt Advice Wed, 30 Sep 2009 11:40:59 +0000 http://www.ncnblog.com/?p=2607#comment-176429 Haha Shaun has a point... Haha Shaun has a point…

]]> By: Shaun McQ http://www.ncnblog.com/2009/09/24/how-to-stay-out-of-debt/comment-page-1/#comment-176208 Shaun McQ Sun, 27 Sep 2009 11:57:07 +0000 http://www.ncnblog.com/?p=2607#comment-176208 DON'T GET MARRIED....... DON’T GET MARRIED…….

]]> By: John Hunter http://www.ncnblog.com/2009/09/24/how-to-stay-out-of-debt/comment-page-1/#comment-176095 John Hunter Fri, 25 Sep 2009 18:20:58 +0000 http://www.ncnblog.com/?p=2607#comment-176095 Good advice. Not buying what you can't pay for is a good start but it isn't enough. Your second point of saving an emergency fund is necessary unless you are extremely lucky and never have an emergency. If you don't have the money to pay for something you want, just wait to buy it until you do. For way over 95% of desired purchases this is the best advice. Good advice. Not buying what you can’t pay for is a good start but it isn’t enough. Your second point of saving an emergency fund is necessary unless you are extremely lucky and never have an emergency.

If you don’t have the money to pay for something you want, just wait to buy it until you do. For way over 95% of desired purchases this is the best advice.

]]> By: Matt Bell http://www.ncnblog.com/2009/09/24/how-to-stay-out-of-debt/comment-page-1/#comment-176041 Matt Bell Fri, 25 Sep 2009 01:39:45 +0000 http://www.ncnblog.com/?p=2607#comment-176041 Great article. I also like the idea of tracking your use of credit cards as you use them. It's easy to do with online budget tools like Mint.com. If you're not using an electronic tool to download and categorize your credit card spending, you can record the spending in an excel spreadsheet or a paper & pencil budget. Otherwise, it's way too easy to overspend with credit cards. Great article. I also like the idea of tracking your use of credit cards as you use them. It’s easy to do with online budget tools like Mint.com. If you’re not using an electronic tool to download and categorize your credit card spending, you can record the spending in an excel spreadsheet or a paper & pencil budget. Otherwise, it’s way too easy to overspend with credit cards.

]]> By: ctreit http://www.ncnblog.com/2009/09/24/how-to-stay-out-of-debt/comment-page-1/#comment-176036 ctreit Fri, 25 Sep 2009 00:11:49 +0000 http://www.ncnblog.com/?p=2607#comment-176036 Avoid lifestyle inflation - that is a very good piece of advice. It is hard to avoid it though. When I got my first substantial raise, I bought a new, but small car with a car loan. I could easily afford the car loan and we kind of needed a new car, but there was really no reason to take on debt for this purchase. I could have waited a year or two and saved enough to buy the car for cash. It is all too easy to feel rich and start spending, even on credit. Avoid lifestyle inflation – that is a very good piece of advice. It is hard to avoid it though. When I got my first substantial raise, I bought a new, but small car with a car loan. I could easily afford the car loan and we kind of needed a new car, but there was really no reason to take on debt for this purchase. I could have waited a year or two and saved enough to buy the car for cash. It is all too easy to feel rich and start spending, even on credit.

]]> By: Eric J. Nisall http://www.ncnblog.com/2009/09/24/how-to-stay-out-of-debt/comment-page-1/#comment-175999 Eric J. Nisall Thu, 24 Sep 2009 12:56:21 +0000 http://www.ncnblog.com/?p=2607#comment-175999 I'd also suggest creating "event funds" as a way to plan for certain things such as a large purchase, holiday gifts, or vacation. What this accomplishes is simply a way to segregate funds that will go toward these specific events, and acts as a guide insofar as how much is available to spend for each purchase. It acts as kind of simplified budgeting tool so as not to take on debt and enabling people to pay off the each purchase completely. I’d also suggest creating “event funds” as a way to plan for certain things such as a large purchase, holiday gifts, or vacation. What this accomplishes is simply a way to segregate funds that will go toward these specific events, and acts as a guide insofar as how much is available to spend for each purchase. It acts as kind of simplified budgeting tool so as not to take on debt and enabling people to pay off the each purchase completely.

]]>