Comments on: Broke because you want to be: 12 rules for debt elimination http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/ Family, Marriage, Finances & Life Sat, 11 Feb 2012 13:09:32 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Billy http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/comment-page-1/#comment-31395 Billy Mon, 24 Nov 2008 04:40:13 +0000 http://www.cleverdude.com/?p=1612#comment-31395 @abigail I am with you and know many people who have faced dire circumstances such as yours. A client I work with came into a heap of medical bills due to unforeseen sickness. As self-employed individuals, their health coverage wasn't exquisite (due impart to difficulty in qualifying with lingering health problems). Combine that with a wavering economy (and they are landscapers/hardscapers) and you have recipe for financial trouble. The past matters little more than the lessons learned and that is what is important. Aside from that, blame, etc. are nothing but energy drains. Solutions are what matter! (and some of that solution should include a plan to prepare in case medical issues arise again, etc.) @abigail
I am with you and know many people who have faced dire circumstances such as yours. A client I work with came into a heap of medical bills due to unforeseen sickness. As self-employed individuals, their health coverage wasn’t exquisite (due impart to difficulty in qualifying with lingering health problems). Combine that with a wavering economy (and they are landscapers/hardscapers) and you have recipe for financial trouble. The past matters little more than the lessons learned and that is what is important. Aside from that, blame, etc. are nothing but energy drains. Solutions are what matter! (and some of that solution should include a plan to prepare in case medical issues arise again, etc.)

]]> By: Abigail http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/comment-page-1/#comment-31392 Abigail Sun, 23 Nov 2008 22:24:06 +0000 http://www.cleverdude.com/?p=1612#comment-31392 Sigh. You know, intellectually I know not to take it personally but I get really tired of hearing how my husband and I are in debt because we *want* to be. Hubby is a bit of a spender and we're slowly working on that. But when he and I met he was having trouble holding down a job because of medical issues (the worst eczema most doctors have ever seen) and I was on disability. And because of the job situation, he had about $20,000 in student loans he couldn't pay back. I helped him find a job with a very understanding boss. We just finished paying off his student loans, but during this time he also had to have $7000 of oral surgery because of an inherited calcium deficiency (plus all the steroids for his eczema since birth) had made his teeth crumble away. Then of course the actual dentures which at 50% coverage meant we paid around $1500. Oh, and a month before our wedding, even his very understanding boss couldn't keep my husband on anymore because of all his absences. So now he's on unemployment and working with the Dept of Vocational Rehabilitation. I'm working some contract work from home part-time and we're slowly paying down $12,000 in credit card debt. Not all of that was necessary. I should have reined in the spending more at times. But I'd say around 90% or more is due to various hospital visits, missed work, co-pays and other random events we couldn't avoid. And yes, I know, these books aren't for people like me. Because the main audience for debt reduction are people who have been frivolous or simply were never taught anything about finance. All the same, the lectures about second jobs or cutting out "luxuries" get hard to stomach. All the "hard-nosed" writers who say that you're in debt because you're irresponsible? I dare them to live a week in my life. See how fast they can cut down debt on $36,000 a year, which is what we're living on -- minus $336 a month for insurance (before that it was $475 for COBRA). I guess that's why I had to just give up and start a blog of my own. Seemed like no one else was much interested in talking about how to cut down debt when you're already living pretty bare-bones. Or when your fatigue means you can't even leave the house that day. Okay, that's enough ranting. I apologize for spewing quite so much cynicism all over your blog. I guess this post was just the proverbial straw. Sigh. You know, intellectually I know not to take it personally but I get really tired of hearing how my husband and I are in debt because we *want* to be.

Hubby is a bit of a spender and we’re slowly working on that. But when he and I met he was having trouble holding down a job because of medical issues (the worst eczema most doctors have ever seen) and I was on disability. And because of the job situation, he had about $20,000 in student loans he couldn’t pay back.

I helped him find a job with a very understanding boss. We just finished paying off his student loans, but during this time he also had to have $7000 of oral surgery because of an inherited calcium deficiency (plus all the steroids for his eczema since birth) had made his teeth crumble away. Then of course the actual dentures which at 50% coverage meant we paid around $1500.

Oh, and a month before our wedding, even his very understanding boss couldn’t keep my husband on anymore because of all his absences. So now he’s on unemployment and working with the Dept of Vocational Rehabilitation. I’m working some contract work from home part-time and we’re slowly paying down $12,000 in credit card debt.

Not all of that was necessary. I should have reined in the spending more at times. But I’d say around 90% or more is due to various hospital visits, missed work, co-pays and other random events we couldn’t avoid.

And yes, I know, these books aren’t for people like me. Because the main audience for debt reduction are people who have been frivolous or simply were never taught anything about finance.

All the same, the lectures about second jobs or cutting out “luxuries” get hard to stomach. All the “hard-nosed” writers who say that you’re in debt because you’re irresponsible? I dare them to live a week in my life. See how fast they can cut down debt on $36,000 a year, which is what we’re living on — minus $336 a month for insurance (before that it was $475 for COBRA).

I guess that’s why I had to just give up and start a blog of my own. Seemed like no one else was much interested in talking about how to cut down debt when you’re already living pretty bare-bones. Or when your fatigue means you can’t even leave the house that day.

Okay, that’s enough ranting. I apologize for spewing quite so much cynicism all over your blog. I guess this post was just the proverbial straw.

]]> By: Billy http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/comment-page-1/#comment-31372 Billy Fri, 21 Nov 2008 18:43:45 +0000 http://www.cleverdude.com/?p=1612#comment-31372 Great suggestions. It is definitely a matter of learning from your mistakes in order to not repeat them. Many were caught up in the frenzied economy and made half-hazard financial decisions all to oft (with some "great" justification as well!) but at some point, responsibility comes upon us. In my opinion, bankruptcy never needs be an option. If you truly want to take control, you can. I have seen people with nearly 1,000,000 in credit card debt dig their way out (bad business deals, bum thing). It was through a process called debt validation and resolution, like settlement on steroids. He managed it in about 18 months. The key now is not to do it again!! Great suggestions. It is definitely a matter of learning from your mistakes in order to not repeat them. Many were caught up in the frenzied economy and made half-hazard financial decisions all to oft (with some “great” justification as well!) but at some point, responsibility comes upon us.
In my opinion, bankruptcy never needs be an option. If you truly want to take control, you can. I have seen people with nearly 1,000,000 in credit card debt dig their way out (bad business deals, bum thing). It was through a process called debt validation and resolution, like settlement on steroids. He managed it in about 18 months. The key now is not to do it again!!

]]> By: Jerry http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/comment-page-1/#comment-31364 Jerry Thu, 20 Nov 2008 22:30:23 +0000 http://www.cleverdude.com/?p=1612#comment-31364 I like his reasonings very much. People need to take a hard look at why they are in their current situation. Only careful consideration and a plan will lead you out of your problem. People want a magic bullet, a pill or some insurance that they will get out of debt quickly and never get there again. Only perseverance and discipline will that, folks. Simple as that. Jerry www.leads4insurance.com I like his reasonings very much. People need to take a hard look at why they are in their current situation. Only careful consideration and a plan will lead you out of your problem. People want a magic bullet, a pill or some insurance that they will get out of debt quickly and never get there again. Only perseverance and discipline will that, folks. Simple as that.

Jerry
http://www.leads4insurance.com

]]> By: HowToMakeMyBlog.com http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/comment-page-1/#comment-31326 HowToMakeMyBlog.com Tue, 18 Nov 2008 00:23:13 +0000 http://www.cleverdude.com/?p=1612#comment-31326 Great article and some great suggestions! About 6 months ago I came to the conclusion that my debt was getting too big, it was all fault of some bad decisions and it was only me who could get me out of it. I took the responsibility and cut off most of the excessive spending and started spending less than I earn. I am in the process of increasing my earnings and hopefully I will be out of the debt around March/April 2009. Marko http://www.howtomakemyblog.com Great article and some great suggestions! About 6 months ago I came to the conclusion that my debt was getting too big, it was all fault of some bad decisions and it was only me who could get me out of it. I took the responsibility and cut off most of the excessive spending and started spending less than I earn. I am in the process of increasing my earnings and hopefully I will be out of the debt around March/April 2009.

Marko
http://www.howtomakemyblog.com

]]> By: Robert http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/comment-page-1/#comment-31316 Robert Mon, 17 Nov 2008 16:48:50 +0000 http://www.cleverdude.com/?p=1612#comment-31316 I saw this on SNL an it says it all! http://www.youtube.com/watch?v=p1BnsjrAGH8 I saw this on SNL an it says it all!

http://www.youtube.com/watch?v=p1BnsjrAGH8

]]> By: Evelyn Guzman http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/comment-page-1/#comment-31315 Evelyn Guzman Mon, 17 Nov 2008 16:23:43 +0000 http://www.cleverdude.com/?p=1612#comment-31315 I like all those steps for eliminating debt. I believe that if the debtors follow those steps, they will be on the right tract to becoming debt free. I like especially the ones on keeping a journal and getting a calendar. Writing down one's expenses in a journal will help in keeping track of the expenses and getting a calendar will help in sending payments on time thus avoiding hefty fees. Evelyn Guzman <a href="http://www.debtchallenges.com" rel="nofollow">Debt Challenger</a> I like all those steps for eliminating debt. I believe that if the debtors follow those steps, they will be on the right tract to becoming debt free. I like especially the ones on keeping a journal and getting a calendar. Writing down one’s expenses in a journal will help in keeping track of the expenses and getting a calendar will help in sending payments on time thus avoiding hefty fees.

Evelyn Guzman
Debt Challenger

]]> By: chris http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/comment-page-1/#comment-31311 chris Mon, 17 Nov 2008 14:17:03 +0000 http://www.cleverdude.com/?p=1612#comment-31311 i have one rule...its real simple "don't spend more then you can afford to pay". i need a book deal :) i have one rule…its real simple

“don’t spend more then you can afford to pay”.

i need a book deal :)

]]> By: Sheena http://www.cleverdude.com/content/broke-because-you-want-to-be-12-rules-for-debt-elimination/comment-page-1/#comment-31310 Sheena Mon, 17 Nov 2008 13:47:26 +0000 http://www.cleverdude.com/?p=1612#comment-31310 Great post on getting out of debt. Creating a budget always helps in managing one's debts. A great way to know where you stand in terms of paying off your debts. Earlier I also used to borrow from my family but now i have stopped the practice. Trying to implement all these points in managing my finances. Great post on getting out of debt. Creating a budget always helps in managing one’s debts. A great way to know where you stand in terms of paying off your debts. Earlier I also used to borrow from my family but now i have stopped the practice. Trying to implement all these points in managing my finances.

]]>