A few months ago, I put together a series of posts, focused on helping readers save money and reduce debt.  I called the series 33 Days And 33 Ways To Save Money And Reduce Debt.  (Clever title, no?)  Since then, the number of folks visiting my site and subscribing to its feed has grown, and some of you might not be aware of the 33 Days series.  I hope you’ll check it out and read through the various posts.  Not only did I write about saving money and reducing debt, but several other personal finance writers did, as well.  Their posts are listed as ‘reaction posts’.

(You might ask, “Why 33 and not 30 or 31?”.  I wish I had a better answer, but the truth is, 3 is my favorite number, so I went with 33.)

If you have a website and you write a reaction post to any of the 33 Days articles, contact me and let me know.  I’ll be more than happy to add your post to the reaction section.

So, click on over, check out the 33 Days series, and prepare to start saving money and reducing your debt!

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Resource Reminder – 33 Days And 33 Ways Series

The following is a guest post from Paid Twice – who writes about debt reduction, life, and creating a healthy financial future.  This post is also the long-awaited conclusion to my ‘33 Days And 33 Ways To Save Money And Reduce Debt‘ series.  I want to thank Paid Twice for her awesome article – and I encourage you to visit her awesome site – Paid Twice.

Day 33 of 33 Days and 33 Ways To Save Money and Reduce Debt:  Remember to Live a Little

Just give yourself room to live a little.  Life still happens no matter what your goals are.  And all of our lives should feel like they are worth living.

Again, I want to thank Paid Twice for the awesome post.  And, I second everything she wrote.  When you visit her site, let her know that NCN sent you!

As most of you know, my wife is expecting our third child.  While ‘baby number 3′ still hasn’t arrived, we are very, very busy, getting ready for her birth.  Over the next few weeks, I’ll feature original content, written by me, and several guest posts, written by some of my favorite personal finance bloggers.  I appreciate your loyalty and patience, as we prepare for and enjoy the birth of our little girl.

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Day 33 of 33 Days and 33 Ways To Save Money and Reduce Debt: Remember to Live a Little

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Day 32: Decide Which Debt To Attack First

For the purpose of this post, when you read attack, think ‘send extra payment to‘.

After making minimum monthly payments to all of your creditors, it’s time to pick a specific debt to attack first.

If you want to pay the lowest amount of total interest – attack the debt with the highest interest rate.

If you want to receive an emotional boost and see en entire debt paid off – attack the debt with the lowest current balance.

If you want to feel good about being out of a specific type of debt (regardless of balance or rate) – attack the debt that ‘bothers you the most‘. (Think personal loan, payday loan, credit card debit, IRS debt, etc.)

You can send one extra payment every month – or you can make multiple extra payments every month. Either way, pick a debt and attack it!

I look forward to reading your comments -Click here to read all of the 33 Days And 33 Ways To Save Money And Reduce Debt posts.

Observant readers will note that this series has taken much longer than 33 days. I can assure you, I am blogging as often as life permits.

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Day 32 of 33 Days And 33 Ways To Save Money And Reduce Debt: Decide Which Debt To Attack First

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Day 31:  Stay Away From The Mall

I am sitting in a hotel room near the Mall of Georgia.  Located near Atlanta, the Mall of Georgia is the “largest mall in Georgia and one of the largest malls in America”.  We have a family event planned for tomorrow morning, so our entire family is staying here tonight.  We have just returned from the mall – and I was inspired to write this post.

If you want to save money, stay away from the mall.  Just. Stay. Away.

Four years ago, before we started getting out of debt, we stayed in this same hotel and we went shopping at the Mall of Georgia.  I have no idea how much stuff we purchased – but I do remember that we had a difficult time squeezing it all into the trunk of our car.

Tonight, we went to the mall for ‘just a few minutes’ – ‘just to walk around’ – and I was shocked by the size of the place, the massive size of its parking lot, and the huge volume of people.  Once inside, we were bombarded by the sound of music, the smell of fast food, and the hum of conversation.

There were people everywhere, spending money, on everything from golf clubs to blue jeans, big cookies to washing machines.  And, for a moment, a single, solitary, moment, I wanted to be “one of them”.

I wanted to throw my budget out the window and buy, buy, buy!

But, of course, I didn’t.  I just walked around with my family, looked at a new set of golf clubs, did a little people-watching, and went back to the car.  Sure, it would have been fun to buy some ’stuff’ -  But, the truth is, I don’t really need anymore ’stuff’.

It’s easy to be content when we are at home, happy with our family.  But, when we surround ourselves with people who are spending money, it’s very, very easy to get ’sucked in’.  Instead of being happy with that ‘comfortable pair of shoes’ – we convince ourselves that our shoes ‘look bad and need replacing’.  That hand-me-down bike?  Looks great when Billy is riding it around in the backyard – not so great when compared to the brand new Z43X-W Super-Speed at the sporting goods store.

May I suggest that you do yourself a favor and avoid the pressure and temptation of the mall?  If you MUST go – go with a list, make your purchases, and get out as fast as is possible!

I look forward to reading your comments -

Click here to read all of the 33 Days And 33 Ways To Save Money And Reduce Debt posts.Observant readers will note that this series has taken much longer than 33 days. I can assure you, I am blogging as often as life permits.

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Day 31 of 33 Days And 33 Ways To Save Money And Reduce Debt: Stay Away From The Mall

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Day 30: Know Your Weaknesses (Spending Triggers)
If you have struggled to get out of debt, take a few minutes and write down a list of your, personal ’spending triggers’.

When you find yourself in certain circumstances – or around certain people – do you find it difficult to maintain good spending habits?

At Christmas time, do you spend more than you should on gifts, food, cards, and parties?

When you go to the convenience store, do you buy snacks that you don’t need?

If you are at a restaurant, do you feel social pressure to order what others are ordering?

Are you overly influenced by “sale papers” or “internet specials”?

As simple as it seems, if you want to get out of debt, you need MONEY! So, you can either earn MORE money, or spend LESS money. (Brilliant. I know…)

If you are aware of your ’spending triggers’ you can

A) avoid situations where you might be tempted to overspend.

B) discuss your financial goals with your friends and family, so that they will be “on your side” (helping and not hurting).

C) be absolutely committed to living on a budget.

I’d love to read your comments. Have you figured out what your “spending triggers” are? Do you have a system in place that helps you avoid overspending?

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Observant readers will note that this series has taken much longer than 33 days. I can assure you, I am blogging as often as life permits.

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Day 30 of 33 Days And 33 Ways To Save Money And Reduce Debt: Know Your Weaknesses (Spending Triggers)

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Day 29: Don’t Feel Bad For Keeping Things Simple

Here’s what I think – If you spend enough time reading about personal finance, watching CNBC, and visiting financial websites – your head might explode.    With all of the information that is available, you would think that everyone in America would be financially secure, out of debt, well-diversified, and on the way to enjoyable retirements.  But, as you well know, most folks are living paycheck-to-paycheck, in debt, poorly invested, and worried about their retirement plans.

Is it reasonable to ask – “What’s wrong”?  With so much information – so many ways to “get” educated and “take control” – why are so many people still struggling financially?

I think I know.  Taking control appears to be “too complex” – so most people throw up their hands and settle.  Most people don’t have (won’t take) the time to sit down and create a budget – because they don’t really know where to begin or how to begin.  Lots of folks (contrary to what most personal finance bloggers might think) don’t pay off their credit cards each month – even though they know they should.  I have seen statistics that over 50% of married couples don’t have wills, that more than 35% of workers don’t contribute to 401ks and that more than 30% of workers have borrowed from their retirement plans to pay off debt.

Why?  If you talk to people, they will quickly admit that they worry about their money – but that’s about as far as it goes.  Clearly, there is a huge gap between where folks wish they were and where they actually are.  Pick up any personal finance and you’ll see dozens of ‘how to’ articles.  Surf through my site (or those listed in my blog roll) and you’ll pick up tip after tip after tip – idea upon idea – for saving money, getting out of debt, and retiring with dignity.  But (and this isn’t a sentence I will enjoy typing) most of the folks I know in real life are still confused, still in debt, still afraid, and still worried about their finances.

I cannot put this off to the standard – “their lazy, they don’t care”.  So, I think that the problem is deeper – rooted in the fact that most folks are confused by financial jargon.

My goal, besides sharing my own story, is to create a place for “regular folks”.  There are thousands of websites and dozens of magazines dedicated to the “insiders” – and I’m glad those websites and magazines exist.  But, the truth is, I am quickly off-put by the “you should know our language” attitude of so many in the personal finance media.

Would you like to see my plans for 2008?  Here they are:

• Each month, sit down for 20 minutes and create a budget
• Spend as little as I can – save as much as a I can – give as much as I can
• Fully fund my 403b ($15,500) – pre-tax – invested in an S&P 500 Index Fund
• Fully fund my Roth IRA ($5000) – after-tax – invested in VTI (Total Market ETF)
• Fully fund my Wife’s Roth IRA ($5000) – this money is after-tax – invested in RFG (Mid Cap ETF)
• Fully fund my Daughter’s ESA ($2000) – after-tax – invested in RSP (S&P Equal Weight ETF)
• Fully fund my Son’s ESA ($2000) – after-tax – invested in RSP (S&P Equal Weight ETF)
• Deposit all extra money into my savings account – use savings for major purchases
• Pay cash and avoid credit cards

Now, of course, as “life happens”, I might have to modify my plans (adding to them or creating new ones) – but the reality is, I like to keep things very, very simple.  My goal is to create plans that are simple, straight-forward, and “what I’ll actually do”.

The real keys are:

• Have a plan that you understand
• Have a plan that you will implement
• Only change the plan if YOU are convinced that changing the plan is beneficial

I’d love to read your comments… Have you developed a simple system for managing your finances?

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Observant readers will note that this series has taken much longer than 33 days. I can assure you, I am blogging as often as life permits.

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Day 29 of 33 Days And 33 Ways To Save Money And Reduce Debt: Don’t Feel Bad For Keeping Things Simple

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Day 28: Find Out How Bad (Or Good) Your Situation Really Is

Do you know how much you owe on your house?  Do you know how much money you have in your checking account?  How much would you need to payoff your automobile loan?  Have you checked your credit report lately?  As you begin to get out of debt and save money – you really need to know “where you are today”.

Create a list of your credit accounts – something like this:

Credit Card 1 – $4000

Credit Card 2 – $5214

Mortgage – $124,400

Hospital – $1300

Automobile – $16,000

If you don’t know how much you owe, then you really can’t begin to create a plan to get out of debt.  So, go online (or call) and find out exactly how much you owe on each of your credit cards.  Call your bank and find out the “payoff” amount for your automobiles.  Call your mortgage company and find out the “payoff” or “remaining balance” on your mortgage.  You need to know how tall the mountain is before you decide how to climb it.

Create a list of your savings / investment accounts – something like this:

Online Savings – $400

401K – $11,000

Pension Plan – $12,000 or X years of contributions

Social Security – Regular report from the Social Security Administration

Most retirement plans now offer online account management.  Log-in to your account and find your balance.  While your logged in, you might want to take a good look at the types of funds you are investing in.  If you are a beginner, you might find that all of your retirement funds are going to one fund, one fund type, or they might be just sitting in a money market account, waiting for you to tell them what to do.  If you have a pension plan or social security, keep up with the regular updates you should be receiving in the mail or from your employer (pension plan).  While the numbers besides these accounts might be “estimate” – it’s still good to know “where you stand”.

If you haven’t checked your credit report lately, click here to read my article about how to get 3 (or 6) annual credit reports – for free!

You should also consider a list of insurance policies and any other accounts that could effect your long-term financial situation.

Have you recently “run the numbers” and added up how much you actually owe?  Are you doing better (or worse) than you originally thought?  Leave a comment and let us know.

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Observant readers will note that this series has taken much longer than 33 days. I can assure you, I am blogging as often as life permits.

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Day 28 of 33 Days And 33 Ways To Save Money And Reduce Debt: Find Out How Bad (Or Good) Your Situation Really Is

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Day 27:  Taking A Few Hours To Organize Financial Documents – File Store Trash

Here’s my system for organizing financial documents and other important paperwork. I like need to keep things simple!

File – (In an accordion-style pocket folder – alphabetically w/ 2 copies – extra copy at my office)

Critical Documents (Wills, Insurance Policies, Car Titles, Tax Returns, Etc.)

Important Documents (Bank Statements, Investment Account Documents, Etc.)

Store - (In medium-sized plastic tubs – stacked neatly in a closet – sorted once every year or so)

Paperwork (Letters, Bill Stubs, Warranty Information, Etc.)

Kid’s Stuff (Report Cards, Art Work, Awards)

Trash

Junk Mail, Bill Stubs From Closed / Unimportant Accounts, Etc.

-

I sort through my documents and I file critical and important documents, using an accordion-style pocket folder. I make two copies of all critical documents and I keep one set at my office. As for how long to keep certain documents – that’s why I use the plastic tubs – I can put two or three years worth of documents in a tub and store the tub in the top of a closet. I don’t have to worry about throwing away documents, because the space these tubs take up is minimal. Every year or so, I can filter through the oldest documents and dispose of the documents that I’m sure I won’t need anymore – receipts for products I no longer own or bill stubs from closed or unused accounts.

Jim over at Blueprint put together a list of important documents and how to replace them if they’re lost.

Click here for my simple solution for organizing product manuals.

Have ideas for organizing, filing, and storing important documents? Leave a comment and let us know.

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Observant readers will note that this series has taken much longer than 33 days.  I can assure you, I am blogging as often as life permits.

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Day 27 of 33 Days And 33 Ways To Save Money And Reduce Debt: Taking A Few Hours To Organize Financial Documents – File Store Trash

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Day 26: Give Yourself A (Pretend) Pay Cut

What would happen if your boss came into your office tomorrow morning, and told you that your salary had been reduced by 15%?  Furthermore, what if he told you that a new law had been passed and you couldn’t change jobs for one full year – and you couldn’t borrow any money, for any reason?

What would you do?  You would probably freak out – then go home and tell your family – and then you would sit down and figure out what to do.  You would begin to examine your spending habits – and you would force yourself to make some changes.  In a year’s time, you would still be alive, and somehow you would have managed to live on 85% of your original salary.  You might have had to give up some of your favorite things – going to the movies, eating out, taking vacations – but you would have survived.

But, we all know that your boss (more than likely) isn’t going to come into your office in the morning and tell you those things.  Nope, you’re life will go on, much like it has for the past few months – you’ll make the same salary, you’ll be able to borrow money, and you will be free to look for a new job.  But, what if you decided to make the spending changes anyway?  What if you decided, today, to live on 85% of your salary? or 75%? or 98%,? or even 60%?  What if you went crazy and “gave yourself a pay cut”.  Not a real pay cut, mind you, but a pretend one.  What if you decided to live on 85% of your salary, instead of 100%?

Sit down with your spouse and discuss what the two of you might do if household income were decreased by, say, 15%.  Then, go out and do HALF of those things – and I’ll bet you’ll be amazed at how quickly you can reduce you debt and save money.  It is amazing how much money we spend on things that are “unnecessary”.  Most of us, if we would focus on the truly necessary things, could fully fund our retirement accounts, live debt free, and enjoy abundant lives.

If you have voluntarily “down-shifted” – given yourself a pretend pay cut – leave a comment.  Or perhaps you’ve given yourself a ‘real’ pay cut – left a job that you didn’t like for a lower paying job that you love – leave a comment and let us know about the changes you’ve made.

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(Final note:  I realize that many of the folks who read my blog find themselves in difficult financial situations.  Some of you have lost your jobs – due to downsizing, health issues, or disability.  I further realize that many of you have already made tremendous cuts in your budgets and that you can’t “squeeze blood from a turnip”.  The inspiration for this post comes from the lady I saw at the grocery store, who was complaining that her credit card was maxed out, as she’s getting into her brand new Lincoln Navigator.  There is a difference between “voluntary simplicity” and “involuntary unemployment” – and I truly sympathize with those who are struggling to make ends meet.)

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Day 26 of 33 Days And 33 Ways To Save Money And Reduce Debt: Give Yourself A (Pretend) Pay Cut

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Day 24: Paid Twice

When I started the “33 Days” series, I did so with the intent of connecting with other personal finance bloggers. One blogger who has written several “reaction posts” is Paid Twice. I received the following guest post from her, and I thought I’d share it in it’s entirety. I am humbled to think that No Credit Needed “inspired” her – and I hope that her post will do the same for many of you!

How No Credit Needed Inspired Me To Start Seriously Getting Out Of Debt – Completely Out

I’ve been in some sort of debt for my entire adult life. I got my first car loan (with my parents co-signing) at 16. I could have bought a good used car with the $6000 I had saved up for it but instead I bought a new car and financed half of it. I collected a small but growing pile of student loans while an undergraduate, for, wasn’t that what you did? Got the grants and scholarships you could and took the maximum federal loans you qualified for. I avoided credit card debt while an undergrad but while in graduate school living on a small stipend, I started accumulating debt bit by bit. By the time I decided to once and for all get out of (credit card) debt in 2003, I was up to my ears in credit card debt to the tune of close to $12,000.

But along with that, I had $15,000 in student loan debt, my spouse had another $14,000, and in 2004 we added a car loan to the mix to the tune of $11,000. But I never even gave any of that “other” debt a second thought. The credit cards were all that really entered my mind as a problem. I stopped using our credit cards and slowly started paying them down. I even paid over the minimum. Sometimes. Three years, two kids, and a house later, it was 2007 and money was tighter than ever and I knew that the credit card debt had to go faster than it had been. I had gotten it down to about $7000 but that just wasn’t fast enough progress. So I started trying to figure out how to do that.

Through my online meanderings I followed a link someone posted on a debt support group message-board to a blog called No Credit Needed. I had no idea that personal finance blogs existed, never mind one that documented the long hard journey out of significant debt. I was fascinated, and ended up spending the next week reading the entire blog archive from the very first post onward. And as I read, I learned a lot not only about debt reduction techniques, but about being accountable to an online audience, persevering even when times were tough and wrenches were thrown in the plans, and how a whole lot of small goals could accomplish one giant goal.

I looked at my own life, and I thought… I can do this. And not only can I eliminate our credit card debt, I can eliminate our student loan debt and our car loan too, and start on a whole new philosophy where debt isn’t just a fact of life. And, in fact, I am. I’m nowhere near there yet, but with a lot of planning and commitment and focus, we’ve made a significant dent in our remaining credit card debt in just a few months time, and we have a plan to eliminate over $36,000 worth of debt in just 3 ½ years. I started my own blog for online accountability, and the very first thing I did is join the No Credit Needed Network. Because there I found a whole lot of other people just like me, just trying to get out of debt one penny at a time. I made a plan, I can see where we’re headed, and I feel like we’re progressing to a financially healthy place for the first time in my entire adult life. And all this by making little changes and paying small “extra” amounts to debt, over and over and over again.

I found No Credit Needed at just the right time. I was open to the ideas and philosophies and taking that first BIG step to making a total commitment to eliminating debt. And I am so glad I did. NCN’s story could be yours, or mine. And if he could do it, we can too.

Paid Twice blogs about her family’s journey out of debt at I’ve Paid For This Twice Already… where she shares her challenges, triumphs, setbacks, and goals reached every day. Follow her progress towards reaching her own debt-free goals by visiting her blog or subscribing to her RSS feed.

If you have been inspired by a blog, a book, a friend, or a personal finance story, write a post and contact me and I’ll be happy to link to your post.

Leave a comment about how other folks (bloggers, friends, etc.) have inspired you to get out of debt and / or change you financial habits.

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Day 25 of 33 Days And 33 Ways To Save Money And Reduce Debt: Paid Twice