Welcome one and all to the 152nd Edition of the Carnival of Debt Reduction! I got a ton of submissions when I was worried about getting none.  So thank you very much to all the participants for contributing and making it a great carnival.  I am LAL, and I’m a 20-something DINK trying to achieve financial freedom. Look around and enjoy. Hope you come back again.

If you would consider doing any of the following fellow participants

• Subscribe to my blog via RSS or E-mail
• Submit this Carnival to a social media site like StumbleUpon or Digg it or Technorati (see buttons at end of the post)
• Link back to this Carnival!

…..I would be very grateful! But onto the Carnival of Debt Reduction! I hope you think it’s fun because I had a blast posting it.  Please come back again for a visit!  The theme of this weeks Carnival is the Olympics.  I thought it would be a fun choice.  So onto the carnival.

Editor’s Choice - Beijing Olympics

 Well these are the top posts of the Carnival. I greatly enjoyed all posts but check these out for ideas on what to do about debt reduction!

• Nate Scottt talks about what he wants to do as he becomes debt free, and asks everyone to join in If I Were Debt Free…#70 « natedavidscott.com posted at natedavidscott.com.
• Chris Johnston discusses how dealing with debt sometimes means controlling your emotions in Controlled Anger Eliminates Debt posted at Making Sense with Common Cents.
• Jason asks the question every future parents considers in Should We Pay Off Credit Card Debt Before Having a Baby? posted at Frugal Dad. I have to say his post has great points.
• James explains to us that everyone needs to choose their own debt payoff strategy in Figuring Out Your Financial Style 3: Debt Reduction posted at capitalcouplesfinance.com

Debt Repayment, Different Types, etc - Track and Field

I choose Track and Field because there are many different subjects under debt.  There is repayment of debt, acquiring debt, opinion of debt, etc.  And in Track and Field there are many different types competitions. 

• The Frugal Zeitgeist tells us how she is completely debt free after recently paying off her mortgage in Nuts and bolts - by request posted at Frugal Zeitgeist. Inspiring and amazing post!
• NCN give us a list to help everyone get out of debt faster in Monthly Checklist To Help Speed Up Your Debt Reduction And Increase Your Savings posted at No Credit Needed.
• FIRE Finance gets creative with a neat acronym for getting out of debt in Three Quick Steps To Get Out of Debt! posted at FIRE Finance.
• JB tells us all how he’s getting his groove back into debt repayment with Getting On The Grind posted at Get Rich Or Die Trying. Go JB!
• FrugalTrader tells us his story of getting out of debt here How to Get Out of Debt - Our Story posted at Million Dollar Journey.
• Coupon Artist talks about her feelings on the mortgage bailout and relates it to having taken out student loans in My Feelings on the Mortgage Bail-Outs posted at artofthecoupon.com. I think that people are irresponsible with money in all aspects of their lives, and education about personal finance is key.
• Benjamin Dinsmore tells us howDave Ramsey Shifted My Financial Paradigm posted at Trees Full of Money. Personally I found the article very negative, and it highlights things I don’t what I don’t like about the Dave Ramsey program. The post assumes no one can afford a new car, nice home, or using a credit cards, something which reinforces negativity instead of positive thoughts.
• Jim tells us his take on prioritizing debt repayment in Order of Debt Repayment posted at My Debt Blog. I gotta say I’m all about paying the IRS!
• Timothy Lutts discusses we as a nation needing to get out of debt and the movie I.O.U.S.A. in his post I.O.U.S.A. posted at The Iconoclast Investor. While an inconvient truth was interesting I did get bored about half way.
• Elyse Andrews asks the question of what can you tell Generation Y in Lessons for Generation Y posted at The Iconoclast Investor. Personally, I’m a Generation X person and I think they are just following the trend of previous generations so we need to change our mindsets everyone.
• Ryan Healy explains to us what the word “voluntary default” means in The Consequences of Too Much Debt posted at Debt Reduction Formula.
• MBB talks about the pros cand cons of Payday loans in depth herePayday Loans and Cash Advance posted at Money Blue Book Personal Finance Blog. Very interesting post.
• Antonio Cangiano discusses the best strategy to get out of debt in Strategies for getting out of debt: Debt Snowball Vs. Debt Avalanche posted at Be life savvy.
• Debt Freedom Fighter talks about the increase in personal debt in this new generation in his post Why Personal Debt Is At Its Highest Level Ever posted at Discover Debt Freedom!.
• The Happy Rock posts a picture to motivate us to get out of debt in Picture Post - Spend Time With Me posted at The Happy Rock.

Credit Cards - Shooting

• Cathryn Sykes talks about the need to read the fine print in her post Comparing Apples to…Financial Grenades (Sneak!) posted at MoneyToSpare.net.
• Anna explains to us why she thinks CC are for emergencies in her postCredit Cards are for Emergencies! posted at To Be Debt Free. I have to disagree but that’s just an opinion.
• Card Blogger presents an in-depth and updated list of 0% CC here 0% Balance Transfer Credit Cards posted at My Credit Card Blog.
• Jonathan asks the question do you know of a secret hidden credit card fee in The Hidden Fee That Costs Us Money posted at Master Your Card.
• RC explains what to look for when searching for 0% Balance Transfer Credit Cards in Credit Card Debt Elimination Using a Zero Percent Balance Transfer posted at Think Your Way to Wealth.

Bankruptcy - Platform Diving

Well I have to admit to being absolutely terrified of diving off the 10m platform.  I dived in high school but I did the 3m springboard.  That was bad enough, but stepping off the edge of 10m?  Well I see bankruptcy the same way.  Leaping off the edge into hopes of savings themselves.

• FMF gives us two simple answers of why people go bankrupt in his post How to Go Bankrupt posted at Free Money Finance. I think that most bankruptcies are a combination of both reasons.
• William Blake explains to us even after bankruptcy getting loans is possible for many people because lenders don’t mind taking on the risk in Obtaining a Loan is Still Possible After Bankruptcy posted at Becoming Debt Free.

Spending - Swimming

I chose swimming for spending because there are tips from smarter spending, to reining in spending, to tracking your spending.  These next posts are tips to help increase your debt reduction by changing your spending habits.  And like the different swimming strokes, everyone had their own method or favorite techniques.

• Laura talks about controlling spending in How To Control Unconcious Spending posted at Green Panda Treehouse.
• Silicon Valley Blogger asks the question of can you conquer your spending habits inStop Overspending Now! 14 Ways To Conquer Binge Buying posted at The Digerati Life.
• Tisha summarizes 4 tips to save more money to pay off debt in Cutting Costs With the Least Amount of Effort posted at American Consumer News.
• Boomie gives tips to curb your spending More Money Saving Tactics. posted at The Wastrel Show.
• Amy talks about the one tip that has helped her pay off debt in The Frugal Shopper’s Golden Rule posted at My Daily Dollars.

Credit Score - Medals

 

So I picked medals to represent credit score.  Why?  Because we are all trying to get a “golden” credit score. Much like the atheletes who are striving for gold.

• Michael Geoffrey tells us the different factors involved in calculating your credit score in his post How The Credit Score Rating Scale Works posted at Debt Smackdown.
• Tanesha Morgan explains how Using Credit Cards to Take Control of Your Credit posted at Personal Finance Analyst can be used to improve your credit score.
• Mr Credit Card answers the question of whether a checking/savings account affects your credit score in Does Having A Checking or Savings Account Affect Your Credit Score? posted at Ask Mr Credit Card’s Blog.

Finally my own post Druken Wall Street? I ask the question of what example is our government sending us about debt repayment when they are running the USA basically into bankruptcy?  We went from a surplus of $523B in 2000 to a deficit of $480B in 2004, which we know is about double that in 2008!

I hope you had a great Carnival, please come back and visit me again.  Or better yet subscribe to my feed!