Comments on: 7 Tips for Aggressively Tackling Debt

By: 2013 Goals Progress – February | When Life Gives You Lemons

2013 Goals Progress – February | When Life Gives You Lemons — Sun, 18 Aug 2013 15:48:04 +0000

[…] and needed to take a week off from posting. I’m incredibly grateful for the help that Corey, Jason, Ross and Rohit provided, and I’m feeling a little more refreshed […]

By: 7 Tips for Aggressively Tackling Debt | When Life Gives You Lemons | HowTo Pay Off Loans

Thu, 28 Feb 2013 06:43:09 +0000

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By: Jake

Jake — Thu, 28 Feb 2013 02:23:25 +0000

My biggest tip for debt reduction is “be a minimalist” or “be cheap as heck”. Want less, do less. Heck, I only upgrade laptops once every 5 years. Same thing goes for cell phone. Eat cheap using a crock pot and bike to work.

Debt reduction isn’t hard. Controlling consumer impulse is.

By: Crystal @ Prairie Ecothrifter

Crystal @ Prairie Ecothrifter — Wed, 27 Feb 2013 04:43:18 +0000

I’m a big fan of extra income…it helps make up for a lot and usually takes time. That means less time to spend money, lol. It ended up working out for me at least…

By: Paul

Paul — Tue, 26 Feb 2013 16:17:49 +0000

I agree with most of it apart from selling assets, assets are something you should hold onto, so sell liabilities not assets!

By: Jason

Jason — Tue, 26 Feb 2013 01:12:40 +0000

In reply to Jose. In regards to debt consolidation, it really depends on which type you sign up for. The debt consolidation that I suggest (and the only one that works well) is when you use a company to lower your monthly payments (by reducing your interest rates) and you pay them a single monthly payment (consolidating) and they are responsible for paying out to each of your creditors. When you're in these programs you're not allowed to take on any more unsecured lines of credit, so the chance you go further in debt is quite small.

By: 7 Tips for Aggressively Tackling Debt | When Life Gives You Lemons | Credit Card Debt Consolidation Tips

Mon, 25 Feb 2013 22:46:39 +0000

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By: Catherine

Catherine — Mon, 25 Feb 2013 18:02:19 +0000

Great post Jason, but RE #4: Here’s my experience. Regardless of how crappy my fiances have been I always paid my credit cards/loans. I tried to call and negotiate with them about our situation especially after I went off work but not one of them were willing to work with us. Why would they? I was making payments even under extremely stressful financial situations. I believe they’re almost never willing to ‘talk’ until the payments stop for a few months and they begin to realize the bad situation you’re in. Until the face the possibility of the worst- bankruptcy, rarely has anyone been willing to play ball… for my personal situation or friends/family who I know.

By: Eddie

Eddie — Mon, 25 Feb 2013 15:39:01 +0000

I’m a huge believer that everything revolves around budgeting. Without a budget you’re doomed. It also helps if you do your research ahead and select the best financial products that fit your needs. For example, I don’t chase rewards, but like having low interest rate credit-cards.

By: TB at BlueCollarWorkman

TB at BlueCollarWorkman — Mon, 25 Feb 2013 15:29:47 +0000

The other thing that’s great about #5 selling your assets is that not only do you get some dough, you also have one less thing to take care of at home. I sell tools I don’t use anymore, and it’s great that I also don’t have to watch over them anymore, take care of them, or use up space to hold them. It’s pretty sweet.