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Debt, Dollars & Sense

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Tuesday, April 11, 2006 Getting Out of De >
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Are You Going to Save or Pay Off Debt?
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Save vs. Pay-Off Debt: The Final Answer
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Thursday, April 20, 2006

Are You Going to Save or Pay Off Debt?

What comes after answering that age-old dilemma?
See last post

The last post showed how to decide if you should focus on paying off debt or if you should consider saving despite having debt. Now with that decision made, what is the next step to take?
1-- Jump into action
2-- Find out how others are doing it
3 -- Doing nothing is not an option

Those ready to take action please share your plan, make a declaration in the comments below. (This isn't just for my benefit or to encourage others, psychologists have found that "going public" redoubles your chances for success. Also, you can start your own money blog here.)

If you want to know how real people, not the experts, are handling saving and debt management, there are a few folks I'd like to introduce you to.

Bloggers battling debt:

- The Great Debt Payoff A family with three kids looks to hit the zero mark.
- Debt Defier This blogger seeks to pay off $20k in two years
- Blogging Away Debt A great friend for those who have serious debt to repay
- Debt Hater Single woman gets serious about debt
- Five-Cent Nickle A comparison of three ways to pay down credit card debt.

Bloggers saving for wealth:
- Boston Girl's Open Wallet One of the original pfblogs
- Follow My Money
- Journey to Financial FreedomThis blogger sets his sights on $2 million
- Financial Ladder More balance-sheet sharing

There's nothing better than surrounding yourself with the right kind of peer pressure. These are just a few of the voices in a growing network of PF blogs. Why not get connected?

For the latest professional advice:
Check out Smart Money's Top 5 Tips to Get Out of Debt
- Also see the archives on AOL's Debt Management page

Please share your own comments, links, blogs...



editoronmoney at 1:13:00 PM EDT Blog about this entry
This entry has 2 comments: (Add your own)
  • #2 Comment from caribbeanlady21
    6/4/06 12:54 AM | Permalink
    I just recently started my own blog and found that writing about my persona finances has been an eye opener.


    http://tired-of-being-broke.blogspot.com/
  • #1 Comment from ptompowell2000
    5/26/06 8:01 PM | Permalink
    i have 87000. on a refinance mortage on the house. but i have 250000. invested in mutual fund tax deferred. ira and 401 account would it make sense to pay off a 6.6 per cent load with the investment money. right now it is earning between 10-15 percent.