Post by: _______ on June 12, 2008, 11:40:43 AM
Then I actually ended up taking advice from a morning talk show. We put the one card we save for emergencies in a tupperware dish, added water, and stuck it in the freezer. Now it sits in darkness, where it belongs, encased in an inch of ice.
Perhaps the effect is merely psychological, but keeping the card in a slightly inaccessible location instead of the wallet has indeed kept us debt free. Unfortunately, if the A/C goes out the card will have to be defrosted, but at least we have stopped using it for unnecessary purchases.
Anyone else taking creative measures to eliminate debt?
-Matt
Post by: Eric Wong! on June 12, 2008, 11:58:42 AM
Post by: Tom Reid on June 12, 2008, 12:45:05 PM
Chapter 7
Divorce
Selling off of tangible assets
Cashing in retirement funds (with huge penalties)
Yup, all of those have been done.
I found that the barter system can save you tons of cash and keep you off the 'grid'.
I'm not proud of any of it.
I went from a 150K a year job to 40K a year disability.
Post by: John Roberts {JR} on June 12, 2008, 01:28:24 PM
| Matthew Whitman wrote on Thu, 12 June 2008 10:40 |
Anyone else taking creative measures to eliminate debt? -Matt |
Um.. living in a small house in central MS that I paid off over a decade ago.
JR
Post by: Eric Dodson on June 12, 2008, 01:37:27 PM
It's a long story and very personal but she has a problem spending and not keeping track of it. I came up with this solution and it works for us; not to mention keeping our marriage together..
Eric Dodson
Post by: Dick Rees on June 12, 2008, 01:42:09 PM
Budget.
DIY
Or as my grandfather put it:
"Never go to work for the bank!!!!"
Post by: Jesse Mahoney on June 12, 2008, 02:10:52 PM
I got a bit of debt worked up whilst backpacking overseas a few years ago. I've managed to get around it by having the fortune (if you can call it that) of moving to a part of the world where interest rates on personal loans are below 2%, thereby avoiding the 17% credit card interest rate in my home country, so I have been able to pay off my debt at almost cost price. Combined with Erics fine method of living below my means, I've worked off my debt fairly quickly! Now I just need to pay off the car faster than it depreciates and I'll be fine!
Post by: Dan O. Anderson on June 12, 2008, 02:33:04 PM
I got myself into a mess of trouble in college, and have been busting my hump to pay it off for the last 6 years ($40k or so). I made my final payment last month and officially don't owe "the man" a penny. What an unbelievable feeling that is!
I use my check card for everything. If i don't have the cash for it in my account, then I can't buy it!
Post by: Steve Weiss on June 12, 2008, 03:05:02 PM
| Matthew Whitman wrote on Thu, 12 June 2008 08:40 |
Anyone else taking creative measures to eliminate debt? -Matt |
We try very hard to follow Dave Ramsey. We use his tools on the web each month. It makes it easy and it feels better to pay cash and have a good amunt of money saved up.
Post by: Bennett Prescott on June 12, 2008, 03:06:08 PM
Post by: Rick Scofield on June 12, 2008, 04:04:04 PM
-Rick
Post by: Steve Milner on June 12, 2008, 04:05:01 PM
| Bennett Prescott wrote on Thu, 12 June 2008 15:06 |
Speaking of frozen accounts... this is what BoA does if they think that wire transfer you just received may have been fraudulent. |
Holy SHIT!!! I have been there (not quite so deep!) before with them on a wire transfer that went south too. The worst part was the effing $35 PER TRANSACTION fee they tried to get from me for every purchase I made unknowingly (maybe 20 transactions over a long gigging weekend) after they turned my account negative. Some 10 days of nonsense later and all was restored to normal, but it was such a hassle.
I have had great times with BofA with my personal and business accounts, but when they make a mistake...they usually try their best to make it a BIG one!
Best of Luck!