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Some Debt Reduction Celebrations

March 19th, 2009

NCN

It’s time to celebrate some debt reduction. Let’s go!

No Credit Needed Network member My Money Memoirs recently eliminated all credit card debt. Congratulations!

Another NCN Network member, Time4planB, reached a personal milestone and is at lowest debt level this decade. Great job!

My Money Minute recently paid off all consumer debt. My Money Minute shared this good news with me via Twitter. If you have a Twitter account, follow me and we can hang out!

It’s always inspiring to find folks who are reducing debt and changing their lives. To all of those mentioned above, and the thousands who are fighting the good fight, You Rock!

If you have had some recent debt reduction success, feel free to share it with us. Leave a comment and let us know about your progress.

Posted in Debt Reduction, Motivation, Noted

3 Comments »

A Plan And Rock Solid Determination

February 10th, 2009

NCN

What does it take to build a solid financial future? Money, a good plan, and rock solid determination.

Consider a recent article written by Jen from Beyond Mom. I love the article’s title: The Budget Might Kill Me This Month. Isn’t that awesome? Trust me, I’ve felt that exact same sentiment several times. I encourage you to read Jen’s article, and I think you’ll be impressed, just as I was, by Jen’s closing words -

It’s not super-fun, and it’s certainly not glamorous, but you know what…it will be worth it.

I think that’s how most of us feel about living on a budget. It is so cool to see someone make a choice – the right choice – and focus on the future. By the way, Beyond Mom is a member of the No Credit Needed Network and you can click here to view her most recent NCN Network Chart – beyondmom.

For our family of five, it’s extremely important that we live on a budget. In fact, just the thought of living without one makes me nervous. I need the structure that a good budget – a good plan – provides. Personally, we use software developed by You Need A Budget to manage our household finances, and we really like it. I’ve been using YNAB for several years, and I’m proud to have them as a site sponsor.

As you develop your budget, remember one thing. Your budget will be useless if you are not determined to use it. I can remember, years ago, before I got serious about getting out of debt, creating an elaborate budget. I broke down categories into sub-categories, and sub-categories into sub-sub-categories. I created short-term, mid-term, and long-term goals. I averaged my payments, created scenarios for paying of my debts, printed out my budget, and placed in a brand new three-ring binder. And there is sat. The budget – my plan for changing my future – just sat there. I spent hours creating it, and then I did nothing with it. It was years later, when I finally decided to actually do something about my future, that my budget started to matter. I had to find the drive, the purpose, the determination to put the numbers on the page into real life action. Then, and only then, did I begin to turn my financial life around.

Posted in Budget, Motivation

1 Comment »

An Inspiring Debt Reduction Email

January 29th, 2009

NCN

I recently received the following inspiring email from Valerie. Valerie reads No Credit Needed, and she is also a member of the No Credit Needed Network.

Subject: Thank You

I just wanted to let you know that I finally paid off my debt this morning… after clicking online to submit the final payment of $200, I feel like a weight has been lifted off my shoulders. Your website has truly helped me pace myself, consider purchases for the short and long-term, and think about funding my emergency, house down payment, and retirement funds. I can’t thank you enough for your… personal take on financial management, your thoughtfulness and support. I am incredibly grateful.

I sent Valerie a follow up email, congratulating her on her outstanding progress. You can click here to view Valerie’s now-completed No Credit Needed Network chart. In my reply, I reminded Valerie that her progress was a direct result of her hard work and that she should be proud of herself. I want to thank Valerie for her email, and I want to thank her for allowing me to republish a portion of it here. Valerie, You Rock!

If you are ready to get out of debt, may I suggest that you read – Debt Reduction 101.

Posted in Debt Reduction, Motivation

11 Comments »

This Could Be The Day

January 6th, 2009

NCN

This could be the day that you…

decide to get out of debt

start to live on a budget

stop arguing with your spouse

start talking to you spouse

teach your kids about money

send five extra dollars to the credit card company

get rid of bad spending habits

embrace bold, significant change

choose to believe that you are worth it

choose to believe that your kids are worth it

choose to believe that your family is worth it

choose to believe that your future is worth it

stop wasting time

start redeeming the time

believe in a better life

dream a bigger dream

plan for a better tomorrow

start to rock

This could be the day – your day – the day you look back and mark as the day you finally decided to do something about your finances. For me, that day came April 5, 2005, the day that I decided that I had finally had enough – and that I was going to do something about my financial situation. This could be your day – if you make it so! Let the fear and anger and hope and promise associated with your current financial situation rise up, from deep within, and then harness that power – and rock!

Posted in Motivation

11 Comments »

20 Things That Rock About Being Debt Free

January 3rd, 2009

NCN

I have been debt free for (almost) three years. The following is inspired by a conversation that I had recently with a good friend – a buddy of mine who has decided that now is the time to do something about his debt. I’m very proud of him, and I hope this post inspires him – and you!

1. I now live in the present, and not in the past.

2. I no longer worry about late fees, interest rate changes, interest payments, lost payments or finance charges.

3. I have peace of mind. If something were to happen to me, my wife would not have to worry about our finances.

4. I earn interest. I don’t pay interest. This feels awesome.

5. I am now acutely aware of the value of a dollar. In the past, if I could make payments, I could afford it. Now, if I can’t pay for it, I can’t afford it. This basic shift in thought has radically changed my life.

6. I no longer dread going to the mailbox.

7. I can afford to fund retirement accounts.

8. I can afford to fund education savings accounts.

9. I am free from the emotional baggage associated with debt. It’s impossible to adequately describe how good it feels to be debt free. Suffice to say, if I had known how awesome being debt free feels, I would have gotten out of debt a decade ago!

10. I can, hopefully, inspire and encourage others.

11. I am setting a much better example for my kids.

12. I am able to give more time and more money to those who are in need. There are only three things one can do with money – give, save, and spend. It feels good to save. It feels good to spend. It feels great to give.

13. I now know that I can establish a goal, push through difficult times, and change my life. These truths are helping me as I now focus on my health – losing weight and becoming a runner. I might has been replaced by I will.

14. I now make big plans. I have learned to dream of a better and brighter future for myself and my family.

15. I spend a little extra on nicer things for my wife. In the past, credit card debt crippled me. Now, with a proper budget and some forward thinking, I can actually plan for nicer things.

16. I can disregard every credit card application that comes my way.

17. I have found solid financial footing. With my debts eliminated and an emergency fund in place, I feel much more secure than I did three years ago. None of us knows what the future holds, but I feel much better now than I did then. Much better.

18. I can listen to my man Dave Ramsey and smile knowingly when callers scream “We’re Debt Free!”.

19. I have a deep respect for those who have paid off much more than I paid off – and for those who are still in the midst of their debt reduction journeys. I am amazed by some of the debt reduction stories that I have read over the past four years.

20. I can write this post. When I started No Credit Needed, I had one goal. I wanted to be debt free. It took 10 months, but I managed to pay off my last debt in February of 2006. Since then, I’ve done my best to be honest, open, and forthright about my struggle and my successes. I hope that this site blesses you as much as it has blessed me.

If you are ready to get out of debt – and start your own journey towards being debt free – may I suggest the following resources?

No Credit Needed Debt Reduction Guide

No Credit Needed Debt Reduction Free eBook

Debt Reduction 101

Posted in Debt Free, Debt Reduction, Motivation

39 Comments »