Carnival of Debt Reduction (#44)

Welcome to the Carnival of Debt Reduction (#44). I am excited to be hosting my first carnival (or festival, for that matter!) so I hope that you all will enjoy it! If you have not visited this blog before, I encourage you to take a peek. My blog focuses on cheap eating, recipes, frugal shopping, and inexpensive solutions for anyone who is trying to live a more frugal life.

I love to dine out, but because of the expense, I rarely get the opportunity to do so without considerable guilt. Today’s carnival is guilt free though and full of good information to bite into. I have divided the posts into different categories. The main dishes are the posts that really shine this week.

Thank you to all who participated. Next week’s carnival will be hosted by Money Under 30. Please be sure to stop by there for more great reads.

Finally, if you are interested in hosting, you can find out more information here.

Amanda, the Young & Broke webmistress, shares a new tool at Money Central. This new tool is supposed to help users determine where they stand, debt-wise, and how to proceed towards reducing that debt. Is it a good tool? Check out Amanda’s comments to get the real scoop.

On the Getting Out of Debt blog, Supermom shares her amazing progress that she has made towards reducing her overall debt. You can read her plan of action for the month and where she is planning to put her next funds towards.

The Prince of Thrift, over at Becoming & Staying Debt Free shares how Dave Ramsey encourages everyone that takes his Financial Peace University course to create a financial mission statement. It was because of that that he decided to post his statement in his blog, setting off waves of other PF blogs to also create and post their own mission statements. So what is your financial mission?

Free Money Finance shares some real & true stories of people who managed to pay off their debt, including a couple who had 30K in wedding bills and got them paid down in a year. They implemented things like not eating out and not shopping for expensive toys as ways you can reduce your debt. Hmmm… how about not spending 30K on weddings and say, “I Do!” in Vegas, baby!

Boston Gal’s Open Wallet submits a great piece, entitled “Neither Quick Nor Easy.” Of hot debate: was Scrooge a good guy and just misunderstood because of his frugalness? Or, was Scrooge the villain that the world portrays him as? You be the judge!

One of my favorite blogs, “We’re in Debt” suggests a better way of managing all of that paper. What? The random piles we have established all over the house (and in the car, and under the bed, and under my seat) is not a system? I beg to differ!

Jim, over at Blueprint for Financial Prosperity shares his dilemma on paying his student loans back. No, he is not wondering if he should pay them. He is really just questioning in what order one should pay their bills. The post was interesting, but I really found the comments even more interesting.

AboutPMI shares some tips for paying down your mortgage faster. Included is a link to a handy dandy calculator (and I know how much the readers love a good calculator!) showing how much it would benefit you if you paid biweekly versus monthly. Now if I can just get that darn PMI removed over in our house, I would be a happy camper.

Free the Drones asks the question is debt really bad? And if it is, what types of debt do you need to be tackling? Find out about ways you can knock out your debt (oh, and there is a calculator for all of you number crunching junkies!) and find yourself on the fast track to financial freedom.

Steve from Debt Free throws out a suggestion to his readers that maybe if you want to live a debt-free life, you should consider eliminating a family pet into your life’s equation. It is interesting to see the astounding costs associated with owning an animal, but look at their sweet little faces and just try to say no….

The Car Buying Tips blog offers some tips to people who think playing musical chairs with cars is a good idea. Guess what? It isn’t! Read more of Chuck’s blog to find out why you should hang onto your cars and not experience these nasty cases of tradeitis.

Frugal Wisdom From Wenchypoo’s Warehouse discusses a recent letter to the Dollar Stretcher in relation to the fundamentals of economics. Did you ever wonder why the potato chips in those bags are getting smaller and smaller? Well, Wenchypoo explains it all (and then some)!

Paul’s Tips (by Paul, imagine that!) shares how to determine whether you are better off renting or buying. Dust off your calculators, get a pen and paper, & get ready to find out your housing destiny.

Published July 16, 2006 by:

Amy Allen Clark is the founder of You can read all about her here.

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