Welcome to the 201st Carnival of Debt Reduction.  Please feel free to wander around, and be sure to check out the recently hosted 98th Carnival of Financial Planning.

I’m LAL, a 30-something DINK, searching for financial freedom. I live in the expensive Northeast and am constantly searching for ways to save a buck.  Even with a decent salary, I try my best to save so one day I can achieve financial freedom.  So join me on my journey.  But onto the Carnival.

Editor’s Picks

• Don’t Quit Your Day Job… submitted a post called Debt: Invest in Yours.  Pkamp suggests running numbers to determine if it’s worth paying off debt or investing in the stock market because of tax considerations.  I think sometimes debt payoff isn’t worth it IF you haven’t learned your lesson.  Sometimes paying off debt yourself, changes your behavior and prevents you from charging.  After all, if you pay off debt with a windfall, how do you know you won’t do it again?
• J. Money presents Visualizing a Life Without Debt. posted at Budgets are Sexy..  He gives us a nice demonstration on how to visualize a debt free life.  Everyone should do this, I can’t do it right now, but perhaps one day.
• Debt Free Adventure submitted a post called Pay off Credit Cards VS Build Emergency Fund Savings – Me VS Suze Orman. DFA talks about his tweeting war with Suze Orman. It was very cute.

Credit Cards

• Master Your Card presents Is Credit Card Debt Consolidation the Right Move? posted at Debt Loans.  MYC gives us a list of things to consider if you want to consolidate your credit card debt.
• One Million and Beyond submitted a post called Repaying Credit Card Debt by making Myself Accountable.  Matt talks about how just taking accountability for debt has changed his life.
• Patrick @ Cash Money Life presents Pros and Cons of Secured Credit Cards posted at Cash Money Life.  Often when you come to the US without a credit history the only way to build it is with a secured credit card, but should you do it?
• bad credit advisor submitted a post called Negotiate credit card debt – how to renegotiate credit card debt yourself.  Don’t forget that any forgiven CC debt counts as income on your taxes.  So be prepared.
• CreditCardAssist.com presents Credit Card Companies Getting Ahead Before the Rule Changes posted at CreditCardAssist.com. CCA talks about the new regulations in place from the Capitol.  I believe they will benefit most consumers.
• apply4-credit presents Balance Transfers and Your Credit Score posted at Apply4-Credit.com. Does a balance transfer affect your credit score?

Debt

• Oneadvice presents What to Do If You Can’t Afford Your Bills posted at One Advice.  Probably the hardest step is facing up to the problem.
• Mortis presents How To Avoid Bad Credit And Repair posted at bad credit mortgage.  His suggestion is to keep organized and realize who you owe and where you’ve applied lately.
• Seth Comire presents Step 1 To Pay off Debt: Know Your Net Worth posted at Penny For Your Debt.  Seth suggest that you need to know all your assets and liabilities.
• My Life ROI submitted a post called Can a Collection Agency Sue for a Debt?.  The short answer, yes.  But here’s my question, if your debts are in collections, is it because you can’t afford to pay it or because you didn’t know?  I wonder if some people in collections aren’t one step away from Bankruptcy.
• Patrick @ Military Money presents Dave Ramsey’s Baby Steps posted at Military Finance Network.  Patrick gives us a summary of Dave Ramsey’s Baby Steps.
• PT presents The 5 Take-a-ways of Personal Finance posted at Prime Time Money.  What are your top 5 financial tips?
• debt kid presents How Your Credit Score and Insurance Premiums are Linked posted at Debt Kid.  Everyone knows their linked, the better question is how linked?
• Leave Debt Behind presents How to Get a Collection Agency to Work with You posted at Leave Debt Behind.  LDB gives us a checklist of tips to run through when negotiating with debt collectors.
• Ben presents Split Loans and Home Equity Lines of Credit posted at Money Smart Life.  Ben talks about using different methods for a home down payment.  When we bought the first time we used a HELOC for a 10% down payment.  It still worked out to be cheaper than renting.
• Forex trading system presents There is life after a bankruptcy or an IVA posted at Money Saving Expert.  Have you experienced BK?  What happened afterwards?
• The Smarter Wallet submitted a post called Avoid Phony Debt Collectors With These Tips.  In today’s economic climate there are so many scams going on it’s wise to be up to date on the latest phony frauds.
• An Emergency Fund submitted a post called The Debt Fire Hose – An extreme debt repayment plan for extreme times.  I wonder how long the debt fire hose can last?
• Mighty Bargain Hunter submitted a post called Round your debt payments up.  Even if you aren’t into hardcore debt repayment mode, just a simple act of rounding up your debt payments can help.
• Miss Bankrupt presents Staying Sane While Broke and in Debt posted at Miss Bankrupt.  She says face the music and don’t give up!  I agree sometimes just facing the music is the hardest step.
• Mr Credit Card presents Walking Away From Debt? posted at Ask Mr Credit Card. Mr. Credit Card answers a readers question about whether it’s moral to walk away from debt.  What do you think?

Hope you enjoyed the carnival!  Please stop by again.