Debt Suggestions

Suggestions on how to get out of and stay out of debt

Cool little idea found on another site…

Some of my friends put a rubber band around their wrist if they’re supposed to remember something, like getting milk on the way home. Some of my friends send themselves email or schedule events in Outlook. Some of my friends draw treasure maps and hide them behind paintings in their attics (okay no they don’t, that was from Goonies). The point is, we all have little hacks we use to remind us about things we are supposed or not supposed to do in the future.

Here’s a hack: Write on your credit cards. If you’re saving for a new television, write “New Television” on your credit cards. If you’re saving for your kid’s 529 plan, write “College Education” on the front of your credit cards. If you are $10,000 in credit card debt and devoted to busting that monkey on your back, write down $10,000 on the front of your credit cards. This simple act alone has the potential to change your behavior for the better and, if nothing else, help you achieve your cash flow-related goals much sooner.

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No, it’s not just you — the U.S. economy really is bewildering. The government says gross domestic product expanded at an annual rate of nearly 4 percent in the third quarter, the fastest pace in a year and a half. The stock market is still up by 4 percent for this year, despite a sharp 3 percent drop on Nov. 7. On the other hand, growth in consumer borrowing slowed unexpectedly in September. Some economists argue that the U.S. is teetering on the brink of a recession, if it isn’t in one already.

Oil has exploded to nearly $100 a barrel, gold is near an all-time high, and the cost of food is soaring. It seems like high prices are breaking out all over, right? Yet the core rate of inflation is less than 2 percent a year, according to one widely followed measure. Confusion reigns right on up to the Federal Reserve, whose interest ratesetters are openly disagreeing about whether more cuts are needed.

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