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Category Archives: Debt Reduction

Most Valuable Lesson from the Women in Red

I’ve learned a lot on the money message boards, both when they were at MSN and now at ProBoards. I haven’t used everything I’ve learned, but that doesn’t make the information less valuable. It gives me more options and options are good.

But the most valuable thing I’ve learned from Women in Red or Your Money? That you’re not alone, that a support group, even a virtual one, can be indispensible when it comes to reaching your goals.

I can be fairly certain that we wouldn’t be at the place we’re at without the support I’ve received from these boards.

 
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Posted by on August 26, 2011 in Budgeting, Debt Reduction, Finances

 

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Become Debt Free with the Women in Red

I’ve mentioned the Women in Red message board here before, but I’m going to plug it again, as we’re trying to grow our membership. We used to have members directed to us via MSN and MP Dunleavy, but since we’ve had to move to a new site we don’t get a lot of new traffic.

Do you want to be debt free? Do you need motivation, maybe some help figuring out your personal strategy to achieve that goal? Head on over to the Women in Red (you don’t even have to be a woman) and put yourself on the path.

 
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Posted by on July 22, 2011 in Budgeting, Debt Reduction, Finances

 

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Citibank is screwing up my student loan payments, AGAIN

Citibank has once again screwed up payments on my federal student loans. This makes the third time this year. It’s getting beyond frustrating. For some reason, their online system and their auto-debit system do not communicate with each other. This bugs me because every other creditor I deal with is able to link the two.

Right now, if I check my payment history online, it doesn’t show any of my auto-payments. And last month, because I made an extra payment online (even though I made it following all their rules) it decided not to take my full auto-payment this month.

 
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Posted by on June 6, 2011 in Debt Reduction, Finances

 

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Basic Money Rules

Spend less than you make.

Pay yourself first.

Have a plan.

Even if you don’t respond well to rules, as the original poster says she doesn’t, sometimes it still helps to know what they are. As my writing teacher used to say, follow a rule until you can explain why you’re breaking it.

Sometimes it’s good to get back to basics, ideas that apply to everyone, whether they’re struggling paycheck to paycheck or putting millions in the bank for retirement.

Not everyone is the same, but this Back to Basics thread still has information that just about everyone can use.

 
 

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Feeling Overwhelmed By Debt

Kind of a classic YM thread, even though there doesn’t appear to have been much movement on it.

In this case, we have a first time poster talking about feeling overwhelmed by debt, feels like she never has money, and yet is also certain that she would have nothing to do if she didn’t spend money on entertainment.

The regular posters are actually being pretty nice, asking for a budget breakdown, letting her know it is normal to feel this way, and offering a way out. I hope she’s moved over to the Women in Red boards as was suggested.

 
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Posted by on February 25, 2011 in Budgeting, Debt Reduction, Finances

 

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Women in Red Racers

When you become a racer, you decide what debt you most want to get rid of, then go write down the exact amount of that debt- no fudging, no rounding. Each month you track what you’ve paid off.

The captains keep track of it all and do weekly shout-outs and awarding smiley faces to encourage the racers.

Sometimes you’re the hare- we paid off a full 1/3 of our race last year. And sometimes the tortoise- expecting it to be another 4 years before our race is won. But you have a goal and people to help you get there.

 
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Posted by on January 28, 2011 in Budgeting, Debt Reduction, Finances

 

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Controlled / No Spend

I have been a member of the Controlled / No Spend board since last February. This board does for my budgeting what my critique group does for my writing. They take what I have, point out the good, and show me how to make it better. They offer the moral support to say no, I do not need a trip to the vending machine or company cafeteria today.

The ladies there take a holistic approach to finances and understand that the complicated bits of our lives can have the biggest influence on how, when, and where we spend our money.

 
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Posted by on January 7, 2011 in Budgeting, Debt Reduction, Finances

 

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Student Loan Frustration

Citibank owns my graduate student loans. In December, I called to complain that my auto-payment had been cancelled. They said it was because I had already made a payment that billing cycle. Well, I made a payment this billing cycle, so imagine my surprise when an auto-payment was taken from my account this morning. It’s what I wanted, but not what they told me, and there was no communication letting me know the terms of their auto-pay had changed. And worse, the amount wasn’t for my new minimum payment, my old minimum payment, or even the difference between the two.

 
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Posted by on January 5, 2011 in Budgeting, Debt Reduction, Finances

 

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Women In Red

On Dec 30, 2009, I decided I needed extra motivation and accountability when it came to paying down our debt. We didn’t know how long unemployment would last, and debts that had seemed like no big deal when we were both working loomed menacingly overhead.

I started with the Women In Red message boards whose purpose was to help women get out of debt (men are welcome). I became a Racer, someone with specific debt payoff goals.

Today, I’m linking to the new home of the WIR. It’s a nice place to visit, and a great place to stick around.

 
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Posted by on December 31, 2010 in Budgeting, Debt Reduction, Finances

 

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Fund Raising

154 Republicans voted against extending jobless benefits for those out of work more than 6 months. Those benefits start expiring Dec 1, right in the heart of the holiday season.  When our economy is looking for a nice big boost of retail spending, over two million families will be trying to figure out how to live on $1200/month less. Can’t extend those benefits unless we can pay for them.

But heaven forbid we let tax cuts for families making over $250k/year ($20,800/month) expire. If I were trying to raise money, I know which neighborhood I’d be knocking on doors in.

 
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Posted by on November 19, 2010 in Debt Reduction, Finances, Politics

 

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