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Oprah Debt Diet
Posted: February 22, 2006 6:45 pm
by MacPhin
just wondering if anyone here is doing the debt diet? we are. it will be hard since the house hold income is commission based. going to see a counselor on friday. ugh
i just hate debt but i have a weakness for warmth ( travel) and all things buffett. i should forego my first MOTM this year. i so want to go and meet all you crazy bnr's
just wondering
Re: Oprah Debt Diet
Posted: February 22, 2006 6:54 pm
by El mojito
MacPhin wrote:just wondering if anyone here is doing the debt diet? we are. it will be hard since the house hold income is commission based. going to see a counselor on friday. ugh
i just hate debt but i have a weakness for warmth ( travel) and all things buffett. i should forego my first MOTM this year. i so want to go and meet all you crazy bnr's
just wondering
Were buying a new truck No diet here
Posted: February 22, 2006 7:13 pm
by SharkOnLand
Lemme get this straight--Oprah, who has bajillions of dollars, thinks she can tell the 'middle-class folk' how to save money?
Posted: February 22, 2006 8:46 pm
by ToplessRideFL
Relieving debt is very simple..... but you have to WANT to get out from under...... pay cash for everything. If you dont have the cash...you will not buy it!
Keep a debit card in a seperate account with $1000 in the bank for emergencies... like car repairs, emergency travel etc....
....Cut up those damn credit cards...... then put yourself on a budget and pay them off. Better yet... consolidate or refinance your house if you can so the interest is tax deductable.
Limit eating out, car pool, order $1 drafts instead of bottles.... save everywhere you can!
When you get paid, put a set amount in a savings account and do not touch it...or have it auto deducted into a bank across town and do not carry the debt or ATM card!!
Believe me...it feels awfully nice to stroke a check when the taxes are due... or when you want to go on vacation!
I was a product of becoming an adult during the Reagan years when they sent credit cards in the mail like they were candy....
But I did it in 1997.... I now carry NO credit cards! We owe on my car and our home. Thats it!
You can do it.
And I am no Oprah!
Posted: February 22, 2006 8:51 pm
by shakerofsalt
ToplessRideFL wrote:Relieving debt is very simple..... but you have to WANT to get out from under...... pay cash for everything. If you dont have the cash...you will not buy it!
Keep a debit card in a seperate account with $1000 in the bank for emergencies... like car repairs, emergency travel etc....
....Cut up those damn credit cards...... then put yourself on a budget and pay them off. Better yet... consolidate or refinance your house if you can so the interest is tax deductable.
Limit eating out, car pool, order $1 drafts instead of bottles.... save everywhere you can!
When you get paid, put a set amount in a savings account and do not touch it...or have it auto deducted into a bank across town and do not carry the debt or ATM card!!
Believe me...it feels awfully nice to stroke a check when the taxes are due... or when you want to go on vacation!
I was a product of becoming an adult during the Reagan years when they sent credit cards in the mail like they were candy....
But I did it in 1997.... I now carry NO credit cards! We owe on my car and our home. Thats it!
You can do it. And I am no Oprah!
Hmmmm....sounds familiar!!
Posted: February 22, 2006 9:35 pm
by ragtopW
I don't make too much .. In my case it is "don't put it on the Card unless you are gonna pay it off next cycle"
True story, I was calling to check on my bank account
the guy on the Phone wants to talk me into a "line of credit"
tells me there is a lower intrest rate.. I ask Him Uh you got my
credit card file there??? Of Course.. Can you tell me the
Average monthly Balance???? Uh.....-50$ ????
uh so the lower intrest thing isn't a worry of yours then?????