In my Living Debt Free ebook, I suggest that readers visualize their goals to help them stay motivated on their journey to getting out of debt.

Joan Sotkin of Prosperity Place takes this a step further, and says visualizing with feelings is a more powerful way to change your money thoughts and will help you achieve your goals faster.

For more about visualizing your goals, check out Prosperity Quick Tip: Visualizing with Feelings.

…why not ask “how can I afford that”?

While browsing the The Carnival of 20-Somethings Finance, I saw a post called Tori Spelling - Unsung Financial Hero? that caught my attention.

If you like reality shows (me, not so much, but I actually caught part of this episode on one of my ‘unable to sleep’ nights), you may be familiar with Tori and Dean - Home Sweet Hollywood.  On a recent episode, Tori and Dean were looking at new houses to buy, and they were looking at one that was twice their budget.

While I was on vacation this week, some thief was busy emptying out my checking account.

I have always loved the convenience of debit cards, but this recent experience has me re-thinking the cost of that convenience.

First, your liability if you are a victim of debit card fraud is greater than if someone steals your credit card or uses your credit card to make unauthorized purchases.

With credit cards, your liability for unauthorized transactions is limited to $50. However, most major credit card issuers have a zero liability policy, so you typically aren’t liable for anything if you are a victim of credit card fraud.

With debit card fraud, your liability is limited to $50 only if you notify your financial institution within two business days after realizing their card has been lost or stolen. After that, your liability is limited to $500 if you report any suspicious activity within 60 days of receiving your account statement. After 60 days, your liability is unlimited, so it’s very important to check your statements on a regular basis.

Continue Reading Debit Card Fraud Much More Damaging Than Credit Card Fraud

Money is one of the biggest sources of worry, anxiety, and divorce among adults. So many people struggle to make ends meet and incur thousands of dollars in credit card debt along the way.

This week on Mom’s Love Shopping guest host Carrie Lauth interviewed me about two strategies that anyone can use to pay off their credit card debts.

There is no one perfect way to eliminate debt; the important thing is to choose a payment plan that you can live with and commit to.

You can find more great ways to eliminate your debt in the Living Debt Free ebook.

I never expected to see a personal finance blog post by Seth Godin, but I am totally lovin’ it!

Urgent personal finance advice

by Seth Godin

If I could only share one piece of personal finance advice to grads or to just about anyone, it would be this:

Only borrow money to pay for things that increase in value.

It’s a short list: your business, your house and your education, mostly. Stocks if you’re smarter than me. That’s pretty much it.

If you have credit card debt, you’re in big trouble. Your bank account has a huge leak in it, and it’s getting worse. Hence the urgency.

You’ve heard the old saying… it can’t hurt to ask… And when
it comes to your credit card interest rate, just asking the bank to
lower your rate could save you hundreds, even thousands of dollars.

Below is a video of four people calling their credit card companies to ask for lower interest rates. Of the four, three were successful. So, it is possible to get your interest rates lowered, just by calling.

Is saving a few hundred dollars a year in interest charges worth a few minutes on the phone? Take a listen and decide for yourself…

There are many resources out there for those who are deep in debt. There are credit counselers and debt consolidation companies. There are lawyers offering to have your debt reduced for a fee, and in extreme cases, there is bankruptcy. With all of these choices, one might think that a person can’t get out of debt on his own.

The truth is that it IS possible to get out of debt on your own. Even those who think there is no room in their budget to pay down debt are often surprised. It takes willpower and determination, but you CAN get out of debt on your own.

So… how do you get out of debt on your own? Here are some tips:

Continue Reading You CAN Get Out of Debt On Your Own

Are you swimming in debt, with no end in sight? Do you cringe every time the phone rings, fearing it’s creditors calling for money? Do your debts keep you up at night, tossing and turning, wondering how you’re going to dig your way out?

If you’re deep in debt, you’re not alone! The average American family has over $8,000 in credit card debt at an average rate of 18%!

Announcing… Living Debt Free - Learn How to Get Out of Debt and on the Road to Financial Freedom!

This complete Living Debt Free program includes:

Trent over at The Simple Dollar recently posted about how he uses a visual debt reminder to remind himself of his commitment to reduce his debt.

His visual debt reminder combines several elements including:

Inspiration - this could be your children, your spouse, or anything else that will inspire you to keep your commitment

Goal - this could be buying a new home, a new car, going on a fantasy vacation, etc.

Progress - to show how close you are to meeting your goal.