Comments on: Are You On The Road To Debt Repayment? http://studenomics.com/debt-reduction/getting-out-of-debt-get-out-of-debt-fast/ Fri, 10 Feb 2012 19:14:42 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Matt Jabs http://studenomics.com/debt-reduction/getting-out-of-debt-get-out-of-debt-fast/#comment-16877 Matt Jabs Wed, 16 Dec 2009 16:08:14 +0000 http://studenomics.com/?p=2748#comment-16877 I wish I could tell people there is a magic pill or an "easy way" to get out of debt... but there is not. Here's the hope: once one commits to getting out of debt, both mentally and spiritually, they win the war. After the commitment is made it's just a matter of fighting small battles each day until debt freedom is reached. The fact of the matter is... this is a "thinking problem." Until people start thinking the way they need to instead of the way society has conditioned them to think... they will never win. Change your mind. Think for yourself. Get out of debt. I wish I could tell people there is a magic pill or an “easy way” to get out of debt… but there is not.

Here’s the hope: once one commits to getting out of debt, both mentally and spiritually, they win the war. After the commitment is made it’s just a matter of fighting small battles each day until debt freedom is reached.

The fact of the matter is… this is a “thinking problem.” Until people start thinking the way they need to instead of the way society has conditioned them to think… they will never win.

Change your mind. Think for yourself. Get out of debt.

]]> By: Carnival of Debt Reduction http://studenomics.com/debt-reduction/getting-out-of-debt-get-out-of-debt-fast/#comment-16259 Carnival of Debt Reduction Mon, 07 Dec 2009 13:08:04 +0000 http://studenomics.com/?p=2748#comment-16259 [...] Studenomics looks into the process of Getting out of Debt Fast. [...] [...] Studenomics looks into the process of Getting out of Debt Fast. [...]

]]> By: Liz http://studenomics.com/debt-reduction/getting-out-of-debt-get-out-of-debt-fast/#comment-15919 Liz Thu, 03 Dec 2009 17:58:15 +0000 http://studenomics.com/?p=2748#comment-15919 We, too, have mostly "good" debt, but with a mortgage, a car loan (at least we only have one of those!), a home equity loan and the real killer, the 2 kids in college, finances still keep me up at night. And there's so much (conflicting) information out there! I'm currently reading Debt-Free Millionaire by Anthony Manganiello. He has a 5-step process, and also details the pitfalls that could await those who are unaware of some of the secrets of the "debt-relief" services industry. One of the things that makes so much sense is that you have to change the behaviors and decisions that get you into your current bad financial condition. OK, that seems obvious, but sometimes you need to really have it said in a different way. And another interesting tidbit -- he talks about the difference between what you earn (gross) and what you take home (net), and points out that if you're in debt, you're probably paying taxes at a higher tax bracket than you probably should be. I had no idea. I'm not sure I'll become a millionaire, but I'm definitely going to be better off. And with retirement 10 or 15 years away, that's a very good thing. We, too, have mostly “good” debt, but with a mortgage, a car loan (at least we only have one of those!), a home equity loan and the real killer, the 2 kids in college, finances still keep me up at night. And there’s so much (conflicting) information out there! I’m currently reading Debt-Free Millionaire by Anthony Manganiello. He has a 5-step process, and also details the pitfalls that could await those who are unaware of some of the secrets of the “debt-relief” services industry. One of the things that makes so much sense is that you have to change the behaviors and decisions that get you into your current bad financial condition. OK, that seems obvious, but sometimes you need to really have it said in a different way. And another interesting tidbit — he talks about the difference between what you earn (gross) and what you take home (net), and points out that if you’re in debt, you’re probably paying taxes at a higher tax bracket than you probably should be. I had no idea.

I’m not sure I’ll become a millionaire, but I’m definitely going to be better off. And with retirement 10 or 15 years away, that’s a very good thing.

]]> By: Thirtysomething Finance http://studenomics.com/debt-reduction/getting-out-of-debt-get-out-of-debt-fast/#comment-15710 Thirtysomething Finance Tue, 01 Dec 2009 19:56:21 +0000 http://studenomics.com/?p=2748#comment-15710 I'm in debt up to my eyeballs, and while it is almost all "good debt" (i.e., student loan debt, home mortgage, HELOC, and 0% credit card balance, which I guess is the best kind of "bad debt" you can have), it still keeps me up at night! My plan involves squirreling away as much money each month as I can, then paying off various loans when I have enough money saved up. My issue is saving up to my potential each month. As I discussed in a recent blog post, I should be saving a whole lot more every month than I am currently saving. That's really got to stop, and I think there are steps I can and should be taking to keep myself on track. I’m in debt up to my eyeballs, and while it is almost all “good debt” (i.e., student loan debt, home mortgage, HELOC, and 0% credit card balance, which I guess is the best kind of “bad debt” you can have), it still keeps me up at night! My plan involves squirreling away as much money each month as I can, then paying off various loans when I have enough money saved up.

My issue is saving up to my potential each month. As I discussed in a recent blog post, I should be saving a whole lot more every month than I am currently saving. That’s really got to stop, and I think there are steps I can and should be taking to keep myself on track.

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