Kip Tips
Great Advice From Around the Web
A weekly look at personal finance tips and insights others are offering.
By Cameron Huddleston, Contributing Editor, Kiplinger.com
February 16, 2011
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Aside from Egypt, the big news has been the President's $3.7 trillion budget -- and the Republicans' criticism of that budget for not doing more to tackle the nation's deficit. Yes, America's debt is worrisome, but many of us would be wise to follow in the footsteps of Jason at Frugal Dad, who writes that he decided to focus on his own debt before worrying about the country's budget.
In The War on Debt: The Battle Begins at Home, he writes about the excuses he used to stay in debt until he reached a breaking point a few years ago "when I found myself eating a soggy hot dog from a convenience store on my lunch break because my checking account was overdrawn, my credit card was maxed out, and my wallet was empty. I had to rely on a gas card to buy my lunch. Had I really gotten to that point? Yes." It's a good story worth reading. And here's more advice from around the Web about dealing with debt -- and avoiding it:
Confessions of a Spendaholic: How to Curb Compulsive Spending [Get Rich Slowly]
"I know that if I relax for even a moment, I’ll be right back in my old habits."
Tips for Dealing With Debt & Conquering Your Debt Fears [The Digerati Life]
"Fear of debt can be crippling and can prevent us from moving forward financially and in other aspects of our lives."
Inspiring Others to Financial Responsibility Without Being Preachy [The Simple Dollar]
"Rather than trying to force the horse to drink, focus instead on leading the horse gently to the water."
7 Ways to Say No to Spending Peer Pressure [Financial Highway]
One of the biggest barriers to living a frugal lifestyle or sticking to a budget is caving to the influence of well-intentioned friends and family members.
A Layoff Story: The Ant, the Grasshopper, the Honeybee and COBRA [Len Penzo dot Com]
Don’t be a grasshopper and fool yourself into believing unemployment benefits will be sufficient to sustain you if you lose your job; for most households they won’t be.
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