Money And Investing  -

Blog for Debt

21 04 06 24 16

-------- A Commitment

This is a Personal Finance website, and as such it should help people improve on their financial situation. One of the things that stop most American families from moving ahead in life is the burden of debt. By the same token, one of the things financial planners advice the most is that you should pay off your debt first (at least the consumer debt – credit card and personal loans). I want to present an idea that I think many of us should follow (many of us may be following it already).

I am in debt right now!
I owe $300 in consumer debt. It is what is left from a camera I bought last year on an interest free offer. I pay $100 every month – which takes a big dent in my $900 monthly “discretionary” spending budget: gas, clothing, travel, car and house repairs and maintenance, and eating out, for example. A more than 10% dent in my “living standard” is how I feel it.

Blog Revenue Goes Into Debt Payments
Every cent produced by the blog (above the hosting fees and domain registration) goes into debt payments. This month I have done two advertisement deals that have produced $180 for text links. I also have the Google Ad sense that has finally produced a bit more than the hosting fees. Every single cent produced goes into the Best Buy Credit Card until paid in full!! I want to be debt free again.

What To Do After Consumer Debt?
To keep the spirit of promoting debt freedom, once I finish with my small credit card debt I will use every single cent of blog earnings to pay down my mortgage: my only other debt. That is right folks, even when I do get a discount from Uncle Sam on my mortgage, I will use the Blog revenue to set the example of how found money can be used to eliminate debt. Every single cent counts!

Do The Same!
I encourage you to do the same. I will link here the people who do the same with their own debt, and I promise I will go to your site and take a look at its content and adds!.