• http://toshogu.blogspot.com Jon

    Yes, cut up the cards except one for an emergency. And an emergency is not “I don’t have the cash to go to the nice restaurant with my friends so I will use the card”

    People in massive debt need to take responsibility and get rid of their money sucking gas guzzling big trucks, don’t get the expensive cell phone, don’t buy the newest ipod, and stop eating out.

  • Lea

    Let’s say you’ve done all the penny pinching you can handle, but you’re still looking for ways to get a little more cash to pay down your debt. One of the easiest things you can do is look around your place for items you no longer use or have just grown plain tired of. We all have stuff like this, don’t kid yourself that you’ll use it again someday. Take a couple of photos of the item and place it on eBay or your local Craig’s list. Then welcome in the potential buyers and the extra cash you’ve been looking for.

  • http://www.quizzle.com Ann-Marie Murphy

    I totally agree with both Jon and Lea. For many of us, our debt was (or is) the result of frivolous spending. If all your friends are going to the latest show, but the charge is just going to wind up on your credit card, don’t do it. Do you really want to pay off that one night of fun for the next year? With interest and minimum payments, that’s what you could be potentially doing.

    And Lea’s absolutely right! Don’t stop with your own home though! When visiting my parents not too long ago, my mom and I started scavenging the basement. She found a bunch of stuff that used to belong to a relative, but neither of us were interested in keeping. Why let it take up space? I put that stuff on eBay and made a hefty sum.