Comments on: A Plan to Be Debt Free http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/ Save Money, Get Out of Debt, and Live a Frugal Life! Sat, 21 Nov 2009 02:16:04 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Should Father Open Line of Credit To Help Son? | Good Financial Cents by Jeff Rose Certified Financial Planner http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-3950 Should Father Open Line of Credit To Help Son? | Good Financial Cents by Jeff Rose Certified Financial Planner Fri, 05 Jun 2009 05:09:00 +0000 http://ptmoney.com/?p=1790#comment-3950 [...] stated that this plan would make you debt free.  Not true!  You have simply moved the debt, which could jeopardize your relationship with your [...]

[...] stated that this plan would make you debt free.  Not true!  You have simply moved the debt, which could jeopardize your relationship with your [...]

]]> By: Debt Free http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-3343 Debt Free Mon, 09 Mar 2009 17:56:35 +0000 http://ptmoney.com/?p=1790#comment-3343 If your homes value has risen versus other homes, debt consolidation can happen! A home equity loan can help you gain back the added value of your property. Isn’t that more creative than debt negotiation? If your homes value has risen versus other homes, debt consolidation can happen! A home equity loan can help you gain back the added value of your property. Isn’t that more creative than debt negotiation?

]]> By: Debt Free Hispanic http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-3314 Debt Free Hispanic Tue, 03 Mar 2009 19:57:21 +0000 http://ptmoney.com/?p=1790#comment-3314 Love the tips on cutting debt. Especially making automatic debt payments, thats why online banking is awesome, I think online banking helped me gain traction when I was cutting my debt. Love the tips on cutting debt. Especially making automatic debt payments, thats why online banking is awesome, I think online banking helped me gain traction when I was cutting my debt.

]]> By: hECTOR http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-3148 hECTOR Wed, 11 Feb 2009 22:04:48 +0000 http://ptmoney.com/?p=1790#comment-3148 A huge thing to keep in mind while you're trying to pay off debt is the transaction/pay date/or whatever the bank/creditor your paying calls it. What I mean is that there is usually a pay data box to select the date you're paying on. If your payment is due on the 15th, this box is usually set as the 15th. The tricky thing here is that if you're making your payment on the 10th you avoid interest for the next 4 or 5 days but if the box is already pre-filled with the 15th that makes you think that this is the only date you can pick therefore your transaction will be on time but you will be charged the interest although you paid early. Be sure to select the date you are paying on or the next day. This is something that Bank of America does (which I think they are crooks and are super greedy bank, even if some people disagree, my personal opinion) so keep an eye out for your creditor doing the same thing, you think your avoiding interest but in reality the bank is setting you up to pay up either way...... A huge thing to keep in mind while you’re trying to pay off debt is the transaction/pay date/or whatever the bank/creditor your paying calls it. What I mean is that there is usually a pay data box to select the date you’re paying on. If your payment is due on the 15th, this box is usually set as the 15th. The tricky thing here is that if you’re making your payment on the 10th you avoid interest for the next 4 or 5 days but if the box is already pre-filled with the 15th that makes you think that this is the only date you can pick therefore your transaction will be on time but you will be charged the interest although you paid early. Be sure to select the date you are paying on or the next day. This is something that Bank of America does (which I think they are crooks and are super greedy bank, even if some people disagree, my personal opinion) so keep an eye out for your creditor doing the same thing, you think your avoiding interest but in reality the bank is setting you up to pay up either way……

]]> By: Charis http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-3132 Charis Mon, 09 Feb 2009 21:25:21 +0000 http://ptmoney.com/?p=1790#comment-3132 It's good to pay extra on an automobile loan. One thing to remember/check a lot of contracts state a payment must be made every 30 days.So when you pay more then your min. payment you pay less in interest and pay the loan off faster. This does not mean that if one month you are short on the payment that you are okay. Read the fine print. It’s good to pay extra on an automobile loan. One thing to remember/check a lot of contracts state a payment must be made every 30 days.So when you pay more then your min. payment you pay less in interest and pay the loan off faster. This does not mean that if one month you are short on the payment that you are okay. Read the fine print.

]]> By: Renie http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-3130 Renie Mon, 09 Feb 2009 19:20:00 +0000 http://ptmoney.com/?p=1790#comment-3130 Paying off debt is a huge deal and I think the strategies in this article and subsequent posts are excellent! Here's one I've used with great success: played "right", every month you'll have a certain amount that you could use to pay off debt. I advocate saving half that amount and using the other half to pay down debt. Why? This way if something untoward happens (like you get layed off or your hours get reduced), you're prepared. After a rough spot, I landed a great job and diligently started paying off debt, living on the very minimal amount that I could manage. About 14 months in, I was very close to being out of debt and **wham** my employer merged, I was "redundant" and lost my job. I had no savings (as I'd been using every penny to pay off debt) and so, to bridge the gap between actual living costs and unemployment, guess what? Yup - HAD to borrow to survive. Now that I've got another gig, I am again paying back at a good rate BUT this time for every dollar I pay back, I save a dollar - just in case..... Paying off debt is a huge deal and I think the strategies in this article and subsequent posts are excellent!

Here’s one I’ve used with great success: played “right”, every month you’ll have a certain amount that you could use to pay off debt. I advocate saving half that amount and using the other half to pay down debt.

Why? This way if something untoward happens (like you get layed off or your hours get reduced), you’re prepared.

After a rough spot, I landed a great job and diligently started paying off debt, living on the very minimal amount that I could manage. About 14 months in, I was very close to being out of debt and **wham** my employer merged, I was “redundant” and lost my job. I had no savings (as I’d been using every penny to pay off debt) and so, to bridge the gap between actual living costs and unemployment, guess what? Yup – HAD to borrow to survive.

Now that I’ve got another gig, I am again paying back at a good rate BUT this time for every dollar I pay back, I save a dollar – just in case…..

]]> By: When You’re Up to Your Neck in Debt | Debt Reduction Formula http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-2963 When You’re Up to Your Neck in Debt | Debt Reduction Formula Mon, 19 Jan 2009 16:23:09 +0000 http://ptmoney.com/?p=1790#comment-2963 [...] A Plan to Be Debt Free in 2009 [...]

[...] A Plan to Be Debt Free in 2009 [...]

]]> By: Jesse Bouche - Six Months to Debt Free http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-2949 Jesse Bouche - Six Months to Debt Free Fri, 16 Jan 2009 19:39:13 +0000 http://ptmoney.com/?p=1790#comment-2949 I'm a big fan of the automatic payments for my minimum payments (they all go out on the 30th, come hell or high water), but I send my extra payments as they come in. So, $100 comes in and $100 goes right out to the debt. I'm not a "lump sum" kind of guy. I’m a big fan of the automatic payments for my minimum payments (they all go out on the 30th, come hell or high water), but I send my extra payments as they come in. So, $100 comes in and $100 goes right out to the debt. I’m not a “lump sum” kind of guy.

]]> By: DebtFree` http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-2932 DebtFree` Tue, 13 Jan 2009 10:49:29 +0000 http://ptmoney.com/?p=1790#comment-2932 Some really good debt free advice here. The sooner that debt problems are tackled then the closer you are to becoming debt free. For UK resident (except Scotland), there is Government help with allows you to become debt free in as little as 60 months, which is know as an IVA. Some really good debt free advice here. The sooner that debt problems are tackled then the closer you are to becoming debt free.

For UK resident (except Scotland), there is Government help with allows you to become debt free in as little as 60 months, which is know as an IVA.

]]> By: Weekly Round Up: Support Your Friends — Green Panda Treehouse http://ptmoney.com/2009/01/05/a-plan-to-be-debt-free-in-2009/comment-page-1/#comment-2921 Weekly Round Up: Support Your Friends — Green Panda Treehouse Sat, 10 Jan 2009 20:00:34 +0000 http://ptmoney.com/?p=1790#comment-2921 [...] A Plan to Be Debt Free in 2009 [...]

[...] A Plan to Be Debt Free in 2009 [...]

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