Thursday, June 26, 2008

Financial Tip Friday

Hi! Welcome to Financial Tip Friday. I hope you will create your own post and add it to the list at the bottom. If you found this post after Friday, that is okay you can still add a link to your blog.

I wanted to get very basic for my first tip. I often surf other personal finance blogs and I notice that a lot of them have gotten away from simple debt reduction tips and often post things that I don't even find relevant to personal finance. So, this is for those newbies trying to get their finances in order.

The tip for today is, if you are in debt, stop borrowing now! Stop using your credit cards, don't take out any more loans just STOP!!

It may sound impossible but last year I did just that. I honestly thought we NEEDED our credit cards to live. I had started reading Dave Ramsey's Total Money Makeover (see sidebar) and I finally got the courage to cut up my cards. I chopped them all to pieces. I was expecting to feel really anxious after doing that, but instead I got really calm. The stress was gone. I COULD NOT use them anymore. I COULD NOT create any more debt!!! It was great. So, my tip... if you haven't done so yet, STOP CREATING MORE DEBT.

Please share your tips!!! Add a link to your post on a financial tip here. Add the link to your POST not your blog homepage. (That way if someone sees this post two weeks from now they can see your post.) Also, provide a link back to this blog and mention Financial Tip Friday! That is all. It is a simple way to get some readers to your blog!!

1 comment:

~The Bargain Babe said...

I added a link to my site where I tell about getting into movies for a buck! :)