Zombie debt, saving money, debt reduction, household budgets and money lingo.
Frugal Confessions – This blog concentrates on debt that’s reached its Statute of Limitations. A Statute of Limitations is the limited time period creditors or debt collectors have to file a lawsuit to recover a debt. This time period varies by state.
But, as Amanda says, just because it passed the time period “doesn’t mean collection agencies can no longer repurchase this debt from other collection agencies” and then try to collect the money. And if you make this one mistake, you’ll owe that expired debt all over again. Find out what that mistake is.
The Debt Myth – Jackie says “You do not have to live like a monk that’s taken a vow of poverty in order to pay off debt.” That’s good news. What you should do is first pick out expenses you can cut. For example, cable bills, gym memberships, etc.
Once you pick them out, decide how you’ll cut them. You can eliminate them altogether “put them on temporary hold” or some other option. This is a comprehensive blog with many good ideas for saving money. Read it carefully.
Blogging Away Debt – This blogger read many debt-related articles while purging his or her debt. Unfortunately, the articles didn’t focus on this one mistake – finding the “emotional triggers” that make people spend irresponsibly.
I know, not everyone who’s in debt racked up large credit card bills. But for those who did, finding out what makes you overspend before you create a debt relief plan is smart. Otherwise you could risk repeating your bad spending habits. Check out how you can find your triggers.
Get Rich Slowly – Franziska says budgeting is “daunting” – especially for beginners. But truthfully, budgeting isn’t terribly hard. You just need guidance when starting one. That’s where she comes in. She says before building a budget, you should first track your spending.
You can easily accomplish that task by using an online tool like PowerWallet. Franziska also reveals her “positive goals,” which help motivate you if your budgeting routine becomes boring.
Money Talks News – If you don’t feel confident using certain money terms or just don’t have much experience with personal finance issues, this blog is a great start. Marilyn presents 14 money terms and their definitions.
The second term is APR, which means annual percentage rate. She says APR and interest rate are “often confused.” The difference is APR “includes interest and other fees and costs, so APR is always higher.” Find out more.
Article last modified on December 15, 2016. Published by Debt.com, LLC .