Question of the Month:
Question of the Month is yet another effort by the debtcc team to enhance the community knowledge bank. It’s a monthly contest and every month a challenging question will be thrown before the members for responses. The best answer will be chosen collectively at the end of the month by the debtcc members and the admin panel of the site. The winner of this contest will receive a handsome reward of a $50.
The purpose behind this idea is to encourage the members to share their real life experiences in dealing with the financial challenges.
Though different financial issues are being discussed across the debtcc board, but it doesn’t leave much scope to the members to share their personal experiences. Here is the place where it can be done, and also that the new members can get the innovative ideas to deal with their debts along with the conventional ones.

Latest Question

Question 8: How can you use internet to earn or save money?

We are finding it tough to maintain our livelihood during this ongoing financial crisis. Can internet be used to earn or save some extra bucks so that it can sail us through these troubled times? How? Share your experiences and knowledge with us to win $50.

Winner Post

Answer Posted by |frogpatch

The other answers worth mentioning are:

Answer 2:     Yes. The Internet can definitely be used to earn and save us some extra bucks. You have those affiliate programmes, eBay, get-paid-to sites or simply set up your own website and sell your stuffs. Theres too many methods out there thats yet to be explored. Creativity added with a good marketing strategy will definitely earn you some extra bucks off the Internet.

Ive known of some people who dont just sail through. They are even making a living off the Internet.

Get-paid-to sites are probably the most popular way to earn some extra cash off the Internet. Why not? Most, if not all, are free to join and they even pay you for doing things you normally do. Examples includes Paid-to-click, Paid-to-read and Paid-to-post sites, just to name a few of the popular ones. Of course, this get-paid-to sites mostly earn you paltry sums but thats where the power of referrals comes in. The sites pay you to refer people to their website. But even with enough referrals, I dont think youll be able to sail through. At most, youll just be able to start the ship(have enough to pay the bills etc..).

The second method Ive mentioned is affiliate marketing. This method is free for the affiliates but costly for the consumers. The job of an affiliate is to help companies to sell their products. The companies will, in turn pay the affiliates a certain agreed-upon amount of commision. In other words, affiliates are what I would call "online salespeople". This is a better method than get paid to as it earns you more for each sale transaction youve made. One of the most popular affiliate website has to be Clickbank. Theres so many products for the salespeople to choose from. And as with real-life sales people, successful affiliates are really smooth-talkers who knows how to play around with words.

The 3rd method Ill cover is setting up your own website and selling your own products. This is almost similar to affiliate marketing. The only difference is you are the salesperson. You decide what you sell and how you sell it. Basically, you are the boss. This is the best method to sail through economic times and maybe even earn a living off the Internet. But, of course, your product must be beyond superb and your marketing tactics have to be excellent. This method has mostly been successful for people that already have a real physical shop and a strong customer base. They set up the websites so that its easier for customers to simply order products online and saves the hassle of going to their shops.

So, those Ive mentioned are just 3 of the common methods people use to earn that extra money.

In terms of saving through the Internet, theres eBay whose array of products sold are normally cheaper than outside market. Then, theres those get cash back websites where you get your cash back on items that youve bought. Not the whole amount but a certain percentage. These are the methods to save online. Oh yeah, did I forget to mention blogshops are also on the rise nowadays and if youre great at searching the net, youll find items with huge discounts at blogshops.

Thus, these are the methods of earning and saving online. Of course, theres many other methods such as freebies trading and becoming a realtor.

All in all, Ill wrap up by saying "A creative mind and excellent marketing tactics are the keys to online success".

Answer Posted by |Zaf

Answer 3:     Considering the economic times, many people are going to the net for answers and how to supliment thier incomes. Frankly it is harder than most people think to make a living online but it can be done. Not only can you make money, there are great ways to save money outside the normal ways. Just in the last few months this is how i saved and made money on the internet to supplement us through these tough times.

1. I have a ebay store were i am decluttering myself plus making a little extra money. killing 2 birds with one stone and the fact that im crafty helps!!

2. I spend alot of time helping people with thier debt and show them ways that i save (thanks to the internet) even though this does not make me money, its rewarding in its own way.

3. I have found so many new ways to save me money thanks to the internet that i normally would never have thought of such as making my own cleaning supplies, online coupons and discounts, purchasing items through mypoints which pays me to do the shopping that i normally would have anyhow.

4. I am finding ways to grow my own erbs, gardens, and fruit and veggies, and learned how to can thanks to the internet. I would have had to purchase hundreds of dollars worth of books for the information that i got for free, saving me both the money in how to books, and saving me money on my groceries and saving on our belts too.

5. Found out how to make certain craft items that i did not know how to do to sell for income.

These are just the tip of the iceburg as to how i have earned and saved money the last few months. After going through my debt settlement program i thought i had gotten myself to were i could do no more, when in fact i was wrong i am finding new things all the time that help me save a dollar or two or earn a few dollars here and there. Most people would not think that this makes much of a difference but by the end of the month i have saved myself hundreds of dollars just by saving a dollar here and there.

Every little bit adds up, and if you are careful you will find ways were you will make the ends meet to get through these tough times. Its not always how much you make, but how much you save or spend.

Answer Posted by |love_my_things

Answer 4:     I am a mother of 7 and I use the internet to make $$ and save money for diapers, gas and Chuck E Cheese for my kids. I complete surveys online (1 company has paid me since 5/20/2008 -$121.90 less than 1 yr. NICE! – 2nd highest TOTAL REWARD PAYMENTS TO DATE $44.00 since 4/13/2008), I complete PAID product evaluations for companies, also I belong to MyPoints which earns you points for various activities (i.e. reading emails, shopping online, printing & redeeming coupons, playing games online, etc.) to date in less than 5 yrs. I have cashed in points for gift cards totalling $675.00- over $125 yr. NICE! Also I complete secret shops for various companies online which has been very lucrative for me (BEWARE-dont pay to become a secret shopper!!!). Get my username and PM/email me if interested & I will share all (permission granted for those who ask Vikas, HA,HA). Also there are Several freebie links that you sign up for samples for things you use everyday (i.e. shampoos, toothpastes, pledge wipes, dog food, OTC medicines, etc). I also sign up for email newsletters to places I shop frequently (Kohls sent me $5 gift card for signing up for e-newsltr., Joanns sends 40-60% off coupons, Chilis, TGI Fridays, Wendys all send coupons for free food, Wal-Mart has free sample link on site, etc.) So if you ask me if you can make & save money from internet -YES!!! -Dont expect to make millions but you can have a nice stash cash amount from it. This forum has been such a great asset of knowledge to me I thought I would try the QOM & be an asset in an area that I have knowledge in. God Bless all and remember knowledge is power and strength. The strong can assist the weak which gives them more power in turn knowledge.

Answer Posted by |cjohnson67

Answer 5:     I believe the internet can make and save you tons of money!! You can go through your stuff and what you dont need or want anymore you can put up for sale on sites like e-bay and craigs list. But you can always get great deals from these sites also. There is also a site for places in my area called rtownshopper and you can go there and get certificates for dinner or almost anything for up to 50% off regular price just by using that site. Then there is this site Where you can find out if your overpaying on your payday loans!!

I made over $400 selling stuff on craigslist in Feb. But I have also saved a TON of money buying hubby a new wedding ring off of e-bay. I paid $110 and it appraised for $1200 and the jewler was VERY suprised that I got it off of e-bay. I have also saved tons of money buying my kids clothes from e-bay. It also saved me gas, because I could look at it on the computer instead of driving around to garage sales and not finding things they liked or their size. I have saved hunders of dollars in interest fees to the illegal payday lenders thanks to this site.

So in my mind the internet is a good tool to use for earning AND saving money. But you do have to weed through the scams that are advertised on some sites, where you have to pay something like $40 for a booklet for work at home jobs. If you have to pay for information then you know its a scam.

Answer Posted by |puddlejmpr

Answer 6:     THERE ARE LOTS OF WAYS THE INTERNET CN SAVE YOU MONEY OR MAKE YOU MONEY, THERE CRAIGS LIST YOU CAN POST THINGS THAT YOU MANY WANT TO SELL, AND YOU CAN FIND REALLY GOODS DEALS TO I MYSELF NEEDED A NEW GAS DRYER, BUT A FREIND OF MY GAVE ME AN ELECTRIC ONE, SO I WENT ON GRAIGS LIST AND FOUND A LADY THAT HAD A GAS DYRER BUT SHE NEEDED AN ELECTRIC SO WE SWITCHED DRYERS, I ALSO HAVE SOLDED STUFF ON GRAIGS LIST I SOLD A WASHER FOR A 100.00 DOLLARS U JUST HAVE TO POST THINGS AND PEOPLE WILL ANSWER

Answer Posted by |MSPACK31

Answer 7:     Yes it can, you can find several websites that will tell you how to save money and to cut costs. Thriftyfun.com will give you all kinds of advice to save money of all things from cooking to cleaning products. I also use websites such as allrecipes.com to cook my own food rather then spend the extra money on premade stuff. If you shop on overstock, ebay and craiglist you can also find things for a lot less then in stores as well as ads for yard sales and people selling used items and things for trade also.

Answer Posted by |KellyP

Answer 8:     Use the internet to research information regarding banks offering the highest savings rates-checking accounts, money market accounts, certificates of deposit, health savings accounts, & IRA accounts. Research online business ventures, buying items like prescription drugs, and take virtual tours of places without traveling. Enjoy your home by staying home & going online & discovering a wealth of information to challenge your mind-Focus on the Family, Max Lucados website, CNN, MSNBC, if further education needed-Take an online class!

Answer Posted by |Sherry1238883980

Answer 9:     hELLO THE INTERNET CAN HELP YOU ACESS ALL FORMS OF PEOPLE TO HELP, YOU CAN ALSO CHECK TO SEE IF THEY ARE REALY TRUE TO WHAT THEY SAY, I AHVE BEEN ON MANY DIFFERENT SITES TO FIND THE BEST SOLUTION FOR ME, I AHVE JUST LOGGED ON TO AND FILLED OUT THE FORM TO THE COMPANY I FEEL WILL HELP THE MOST, THUS PUTTING MORE MONEY INTO MY POCKET AND KEEPING THE CREDITORS OFF MY BACK, I WOULD ENCOURGE ANY ONE TO SERACH THE INTERNENT FOR VERY HELPHFUL INFORMATION.

Answer Posted by |k.conrad

Answer 10:     This site was reviewed, among several others, on www.infowars.com. So, it is number one of the few legitimate sites going out there. The infowars staff actually bought the different pkgs, and tried them out. It is Shelly Ryans instant profit machine.

www.instantprofitmachine.com

It is a click bank return, and it is very, very simple to do!

Quote from the site:
I have found a foolproof method how anyone can easily make a big additional income every week with 15 minutes of their time and create a substantial monthly income. This method has never been released to the public before. Very few, if anyone has implemented this. I have decided to share my idea with you. The only thing I ask is you do not share this information with anyone.

Now you can pump out HUGE profits in just 5 minutes everyday using an embarrassingly simple, proven, plug-in-and-profit software that will zap quick, easy cash into your accounts at will…

These are just a few of the benefits:
NO Advertising required
NO Affiliate Marketing
NO Selling required
NO Additional Costs involved

There is a one time fee, and it comes with a 60 day guarantee. I do not remember if it was $50 or $67?

Answer Posted by |alan rush

Read the rest of this entry »

My Friends,

I have heard many complaints, both in this Community and elsewhere on the Net, about outsourcing to India, among other places. There is even a lot of talk about it in the political arena. I have something to offer to the debate. I hope it serves as food for thought, and I hope that it inspires people to take up the banner of freedom and fight to protect and ensure Justice for all people, regardless of nationality, race, or economic standing.

In birth and in death, we are all equal. It is only in life that we allow our apparent individuality to highlight our differences to the point of exclusion of others.

I understand that many people are frustrated with abusive and harassing debt collectors and ignorant customer service agents, but unfortunately there is not a simple solution. America has become ridiculously (and needlessly) expensive and the financial behemoths that hold her people in a stranglehold are spreading out throughout the globe to divide and conquer to add even more blood to their bloated profits.

The expense of running a business in the US has gotten so out of hand that many companies are forced to move large portions of their operations overseas. We have gotten into such a frenetic “cost cutting” mode and “mega-merger” mania [the creation of Monopolies] that even when some companies move some of their operations overseas, they are sometimes too cheap to hire an American to be in charge of training and customer service oversight. It is the fault of poor management and a need to report higher and higher profits to their “investors” (such as stock market gamblers) or face even more pressure to cut back. Others follow along out of greed, just because it’s cheaper, and they feel they are out of the grip of US Law and so can ignore it with impunity.

I have even dialed information (411) for Reno, Nevada and talked to someone in the Philippines! What would they know about Reno?

Medical care has gotten so expensive in this country that many are forced to travel to other countries for medical care. What about those who can’t even afford to travel? They must suffer with incompetent and substandard medical care or are faced with the indignity of denial of service. The medical industry lobbied mightily for the passage of the ill-begotten 2005 adjustments to the Bankruptcy code which now require people to lose nearly everything of value – the majority of Bankruptcies are filed because of crushing medical debt – just because they got sick and either didn’t have adequate insurance, or were insured by HMOs more interested in profit by Denial than serving the ill. How many of us really want to go to the hospital? So just because one gets sick means that they have to lose everything they struggled so hard to gain for themselves and for their families? Is making us slaves to never-ending debt in our best interest and to our benefit? [see * note below]

These issues are not so simple and one cannot just jump to conclusions that put people down based on where they were born, their melanin content, or any other flimsy excuse for dividing us.

On the other hand, it is not psychologically healthy to find offense where none was meant to one’s person. For instance, I do not get offended when called a “cracker” or a “white devil” or any number of the many degrading names I have been called – I am quite an unusual person – even when it is intended to be personally hurtful. It is far too easy to discover the faults of others, it is the discovery of our own that is so myopic.

The only ones who have a vested interest in our divisiveness are those that would exploit us for their own filthy greed and illicit gain (Divide & Conquer, a very effective tool of War). In order to combat that tendency, we should be looking for ways within ourselves to become closer together because we have so very much in common.

The American people itself have historically fought numerous injustices and won many battles for human rights (even in the midst of inglorious mistakes) and thus shone as a light to the world by her example. In these dark times some of us forget that. And we forget that it requires We the People to stand up and reclaim that legacy of respect.

Let us remember that the battle is not with India or China or Europe, etc. The battle is with our own government that has sold itself to the highest bidder, to the chagrin and needless suffering of her own people. And it is We the People that must take back our Dignity, take back our Right to Life, Liberty, and the Pursuit of Happiness – which is being callously stymied with malice aforethought, by burying us deep in the muck of debt until we are Owned in all but name.

The Credit Reporting Agencies have some of our livelihoods in a stranglehold. They stubbornly violate the Fair Credit Reporting Act (FCRA) which allows only truthful and verifiable information to be included in the credit reports, by accepting the flimsiest of excuses of so-called “evidence” offered by some junk debt buyers who are out to steal from people by attempting to collect outside of the Statute of Limitations – and sometimes not even the debt of the hapless victim (alleged debtor) at all – by daring to accept “yes it’s your debt” as verification! If you can’t PROVE it, STEP AWAY and do NOT try to collect it (innocent until proven guilty).

But instead of attacking and insulting each other, let us take this ire directly to the CRAs who would let this travesty continue after the heartfelt pleas of the wronged! Let us take this ire directly to abusive debt collectors who flagrantly violate the Fair Debt Collection Practices Act (FDCPA)! Let us take this ire directly to those who fight to remove our Constitutional rights from us one by one, nailing them with spikes of fear and greed! Let us take this ire directly to the divisiveness each one of us holds in our hearts!

This is where it belongs – against all those who would enslave us. This is where it belongs – against all those who would exploit us. This is where it belongs – against all those who would deny us our Dignity that was freely given by God – by whatever name you use (or even none at all) to address or think about the Mystery of Life in each of us and is truly Sacred.

I echo the words once eloquently spoken by the incomparable Benjamin Franklin: if we do not hang together, my friends, then we shall surely hang separately! And also the words of the great Abraham Lincoln: United we stand, divided we fall! One more (attributed to both John Philpot Curran and Edmund Burke but cannot be definitely traced to either man): “Evil prospers when good [people] do nothing”. These may be considered to be clichés, but they are very important words that symbolize matters of most importance within a free society governed ostensibly of the People, by the People, and for the People and we would do well to keep these words on the tips of our tongues and on the forefront of our conscience. For if Freedom be lost, what do we have to offer our children? A legacy of betrayal?

No, it must not be.

We should fight for Justice because we want to be treated justly. We should treat others as we expect to be treated – on our own individual merits and situation. And we should never tolerate those who would attempt to thwart those rights – neither king, nor CEO, nor politician, nor employer, nor debt collector. This is the Reward of our Struggle and the Responsibility to our children, – our Legacy, the legacy of our Country, and the entire World.

“There are more instances of the abridgment of the freedom of the people by gradual and silent encroachments of those in power than by violent and sudden usurpations.” [James Madison, Speech to the Virginia Ratifying Convention, June 16, 1788]

Let Freedom ring!

Thank you for listening.

-

* “Medical professionalism involves not just the relationship between a physician and a patient[.] … It also involves a relationship with society. This relationship can be characterized as a ‘social contract’ whereby society grants the profession privileges, including exclusive or primary responsibility for the provision of certain services and a high degree of self-regulation, and in return, the profession agrees to use these privileges primarily for the benefit of others and only secondarily for its own benefit.” [page 64-5,“Medical Ethics Manual” by the World Medical Association.]

A man who loves to call himself lazy. A man who being the laziest in the family has earned a lot and today he considered himself as a perfect blogger, writer and marketer. Software Engineer by profession, Corey, loves to write on personal finances like on budgeting, career, credit, debt, entrepreneurship, investing, taxes, real estate, insurance, spending, retirement, and estate planning. Let us learn some tips from lazy man and money for saving money and making more money is this economic downfall.

 

Jason: From where did you get the idea of blogging?

LMM: In 2006 I wanted to learn more about blogging and why people were starting to get their news via blogs. One day I decided to look for blogs in areas that I was interested in – Gizmodo was the one that came to mind.

 

Jason: There are so many topics on which you can blog. But why Personal Finance?

LMM: I read an article in Business Week about how Boston Gal’s Open Wallet writes about her finances. I thought it was very interesting to write about things that people don’t talk about anonymously. I started reading the site and became more interested. Eventually, I decided that I should write – just to improve my own writing. Since I had been investing in mutual funds since the age of 14, it seemed as good as topic as any.

 

Jason: What do you do in real life and how’d you get started?

LMM: I used to consider myself a software engineer, but I’ve stepped away from that career. Being as Lazy as I am, I had no interest in learning all the changes to the industry during my own time at home. I got started in software engineer when my parents got me an IMB PCjr at the age of 8. Today, I consider myself a blogger/writer/marketer. I do some freelance writing, contract marketing, and blogging. I bring home a bigger paycheck from my contract work, but that is usually month-to-month. I prefer the times when I’m not contracting full time. It’s a much better work/life balance.

 

Jason: How long do you think this current economic situation will last and what do you think the answer to it is?

LMM: I see it getting a little better each year for the next 4-7 years. Since I see it as a gradual thing, I’m not sure when to say, “That’s it! We have the answer!” I don’t know what the answer is.

 

Jason: We just noticed the title on your blog is, “Lazy man and money.” How can I be lazy and still earn money?

LMM: You have to look at the saving money part of the equation as well as the earning money. It’s easy to be Lazy and save money. It’s usually just a matter of discipline and saying, “I don’t need that BMW or McMansion. I can work less and buy a cheaper used car and smaller, more economical home. Suddenly, you don’t need to make six figures… perhaps you can get by on a part-time job. It’s also about recognizing how interest works. If you are paying interest to credit cards each month, you need to work harder for nothing. If you have lots of money invested, your money does the work for you.

 

Jason: What are the three biggest financial achievements you have ever made?

LMM: I’ve had a lot of slow and steady gains. I’d say the biggest achievement was when Lazy Man and Money made enough money to cover all my necessary expenses. If I lost my job, I could eat, pay rent, utilities, etc. just blogging. It’s great from a cash flow perspective, but it doesn’t allow me to save what I would like to. That’s why I either need to work on my businesses to make them more efficient, or continue to take contract jobs and invest wisely.

 

Jason: Where do you see yourself 10 years down the lane?

LMM: Retired. My wife and I have a fairly extensive plan for how we’re going to reach that goal. I wrote a short 5 part series on our early retirement plan.

 

Jason: Do you think blogging has changed your life in some way or the other?

LMM: It certainly has. I once wrote the Top Ten Ways Personal Blogging has Helped Me. That’s still true today.

 

Jason: Please advice our readers how to pay off their debts?

LMM: I would say that you should take the following three steps:

 

1) Work with debtors to try to reduce the loan’s interest rate. This may or may not work, but it’s worth a try.

 

2) Look at your assets. If you have a new Corvette, consider selling it and pick up a used Kea. This is an extreme example, but many people can save hundreds a month with a switch from the cost of a new premium car to a used car that gets you from point A to point B.

 

3) Look at your monthly commitments. Are you making payments on that car… maybe you the above switch helps you get out of that debt completely. Do you have a Netflix subscription, HBO, an expensive cell phone plan that you can cut back on? This all goes towards making sure your income exceeds your expenses. Don’t forget to add the interest you are paying to those expenses.

 

4) Be caution of debt consolidation… Heed the advice of Wikipedia on Debt Consolidation. Look out for the pitfalls there – especially if you are putting your house on the line.

 

Jason: How do feel by becoming a part of world’s largest debt consolidation community now?

LMM: I am… hmmm… I didn’t know that. To be honest, I’ve never really cared about debt consolidation. I’ve focused my money research around things that are applicable to my life. Since I don’t carry debt, it’s not anything that I’ve ever looked into.

 

That said, I wouldn’t care about debt consolidation… I’d care about debt elimination. To me consolidation doesn’t improve things unless you can lower your interest rate while keeping your unsecured loans, unsecured, while not paying any fees for the service. If you come out with the same rates, pay fees, or have to put up collateral (like your home), it simply doesn’t make sense.

 

Jason: What was your best personal finance decision?

LMM: I think it’s starting Lazy Man and Money. It goes back to the aforementioned ways that blogging has helped me. It forces me to focus on my finances more. Not only that, but it also brings in some income each month outside of a normal 9-5 job. There were 8 other reasons listed in there.

 

Jason: What is a major personal finance issue that is on your mind right now?

LMM: My tenant in Boston called the other day and said she lost her job and can’t pay the rent. The link has the whole story, but that’s a big deal financially for me. However, in general, I think the country has too much debt, too much unemployment, and credit has become too hard to get. Baby boomers are finding their life savings decimated at the worst time – as they look to retire.

 

Do you really think it is so easy to be lazy and earn money? Do you really think Corey is a lazy person or he is doing this just for publicizing his blog? Do leave a comment on this before logging out from this post. All the comments will be highly appreciated.

At Debtconsolidationcare, we make sure that there’s a sense of belongingness to our community. In an attempt to do so, we have come up with the “Hall of Fame” Badge – a symbol of recognition of our members’ contribution towards the community.

As of now, community members making more than 1000 posts qualify for the Hall of Fame (HOF) Club membership. Once a member qualifies for HOF, the community starts a thread “Vote for your name in the Hall of Fame” in the pub forum. This is where the member receives votes from others (members) participating in the community. Once the member gets 10 votes, he becomes a member of the Hall of Fame Club.

 

Till date, a HOF member used to receive a check of $100. In addition to this, they’ll now receive the “Hall of Fame” Badge, which they can use in their blogs and websites. Using the HOF badge, members can promote themselves as a member of our community. If you’re a HOF Club member, feel free to get the badge code from the member area.

Aiming to have a healthy six figure bank account balance, Single Guy Money was successful in paying his $ 40,000 debt of his car loans and credit cards. A man with a dream of living a non-mortgage debt life by the end of 2010. Let us read his views about his journey as a finance blogger from the interview below.

 

Jason: From where did you get the idea of blogging?

SGM: I happened to be searching for personal finance information and ran across a personal finance blog that had been around for a few years. I spent hours one night reading the entire blog and I was intrigued by the idea of anonymously posting my personal finance information for everyone else to see and maybe gain something that would help them with their own personal finance.

 

Jason: There are so many topics on which you can blog. But why Personal Finance?

SGM: Personal finance has always been my passion. I used to sit down with my grandfather and watch him write out the checks to pay the bills. He always told me it was important to pay out less money than you are bringing in.

 

Jason: What do you do in real life and how’d you get started?

SGM: In real life, I work for a large insurance company in the claims department. I’ve been with the company over 8 years and got the job my attending a job fair. I’d actually never heard of the company and just figured it would be something I could do temporarily until I found a job that I really wanted to do. I hated it for the first year or so and then I got the hang of it and stuck around. It has turned out to be a great company and my salary has more than doubled since I started.

 

Jason: Your bog’s tagline says, “My goal is to be free of non-mortgage debt by May 2010. ” What preparations are you making to achieve this goal and how?

SGM: My plan is to save a large cash cushion to handle any emergencies that may creep up. Once that goal is funded, any extra cash will go towards my student loan. Once my student loan is paid off, the only debt remaining will be the mortgage.

 

Jason: We noticed that you have made loads of financial mistakes in your life. What are the three biggest finance mistakes you have ever made out of all?

SGM: My three biggest mistakes by far are: buying a new car every couple of years and continuing to accumulate more debt with each purchase, financing my lifestyle during college with credit cards and taking on a lot more student loan debt than I really needed.

 

Jason: How long do you think this current economic situation will last and what do you think the answer to it is?

SGM: I wish I knew the answer to that. I do think it will not end quickly and may around for the next couple of years. I do think if people had taken more responsibility, we would not be in this situation. If the bank tells you can afford $10 a month and you can only afford $5, you only finance $5.

 

Jason: Where do you see yourself in 10 years down the lane?

SGM: Ten years from now, I would like to be completely debt free; including mortgages with a nice, healthy six figure bank account balance.

 

Jason: How do you feel after paying off almost $40,000 of your car loan and credit cards?

SGM: It feels awesome!!! I can sleep better at night and I am no longer worrying about the bills.

 

Jason: Do you think blogging has changed your life in some way or the other?

SGM: Blogging has changed my financial life tremendously. I now feel accountable to my readers. I know that if I mess up and make a stupid purchase, my readers will let me know. I actually think about and plan for purchases now instead of just going out and buying stuff I don’t need.

 

Jason: What was your best personal finance decision ever made?

SGM: My best personal finance decision was finally paying off my car loan. I not only paid off the current vehicle I was financing but I paid off over 12 years of car loans. I can now use the money I was paying the bank to build my savings account. I now make car payments to myself. When the time comes for my next vehicle, I plan to go in and write a check for the full amount.

 

Jason: Please advice our readers how to pay off their debts from your past experiences?

SGM: The first and best tip I can give the readers is to be patient and don’t give up. You didn’t get into debt overnight and it won’t be paid off overnight. Every bit of extra money you get, throw it at the debt. Every little bit helps. Adding an additional $10 to your payment will add up eventually and chip away at the debt. Before you know it, you will be done and you can move on to the next debt. Don’t try to do it all at one time. As the saying goes, “How do you eat an elephant? One bite at a time.

 

Jason: How do feel by becoming a part of world’s largest debt consolidation community now?

SGM: I think it is absolutely awesome and I appreciate the opportunity to be a part of it. Debt reduction kicks butt!!!

 

After reading the interview of Single Guy Money, Do you think he will be able to achieve his goal of living a non-mortgage debt life by the end of 2010. Do not forget to leave your views about Single Guy Money and his interview with us.