Editorial - How to get out of the debt trap

b.a. c.
01/20/2010 5:56 PM

Anyone want to buy some lakeshore?

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b.a. c.
01/20/2010 5:55 PM

Yes, and people with $250,000 second homes are even bigger idiots.

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Sarcastic Sid .
Alexandria, MN     01/20/2010 9:55 AM

People with $25,000 in credit card debt are idiots.

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b.a. c.
01/16/2010 3:19 PM

That's certainly a constructive suggestion. Did you even read the article, monte?

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monte b.
01/16/2010 1:17 PM

nancy from farwell,,, bawhahahahahahahahaha! thats funny! really, i mean you think people should show responsibility? in this day and age it is way to easy to blame some one else for not being thrifty. like those who bought homes, when they had no business doing so. you as a home buyer read and sign the contracts, but they whine about being a victim of preaditory leandors. give me a break. i know people that have $25,000.00 of credit card debt who make less than $18,000.00 per yr. what world do people live in when they think that is o.k. fisical responsibility has went away, you see that in congress. if i want something, i pay cash for it. in my whole life i may have had $2,500.00 in credit card debt. had i not got rid of them the bottom line would have been "i dont need them" oh my this makes for some good reading. to bad most of the post's are like reading fairy tales!!!

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Nancy F.
01/16/2010 11:54 AM

How to stay out of debt? 1. Never spend more than you make. It's that simple and that difficult. 2. Never use a credit card for emergencies; It only makes your problem worse. Instead, have an emergency fund to dip into. Also, figure future expenses into today's budget. Determine how much money you'll need, divide by 26, and save that much out of each paycheck so it's there when you need it. The most diffucult problem that most Americans face is not knowing the difference between WANT and NEED. We don't NEED a vacation every year, or a NEW car, or a boat. Don't let your "stuff" rob you of your peace. For most people in this country, if they can't afford it, they don't need it. If you really can't afford things you really need, don't be too proud to seek help. Some tightwad tips: 1. Have a monthly menu plan, and a list of all the ingredients. Grab the stuff you need when it comes up on sale. This way you won't be tempted to "just go out" to eat. 2. We have a food budget that includes groceries and restaurants. That way, if we really keep our grocery expensed down for the month (by hunting for really good sales), we can reward our efforts with dining out once or twice. 3. Don't let yourself feel deprived, and don't lead yourself into temptation. Just as in dieting, budgeting takes just as much strategy as will-power. Leave enough leway for an occasional splurge, but don't go "window shopping" if you're trying to save money!

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b.a. c.
01/15/2010 5:19 PM

Unfortunately, there's way too many parents that are willing to subject everyone else in the store to kids screaming and wailing at the top of their lungs for whatever reason. I've walked out of stores just to get away from it. But, to the topic, the best thing I've ever done was to pay off the credit cards and chop them into little bitty peices. The only one I carry now is good for just the store that issued it, and I have no problem with that one. Zero interest if I pay it off the next month, and I stick to that.

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Kay P.
01/14/2010 7:55 PM

I guess I don't do bribery. I've left entire carts of stuff at the store and removed my screaming kids from the premises. Believe me, a couple times and they seem to remember that Mom won't cow to their demands, nor will she put up with bratty behavior. Tough Love, folks. It's easier to start teaching when they are two, than try to turn off the wallet faucet when they are 22.

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mike j.
01/14/2010 6:58 PM

Maybe, parents should get the schools to handle the raising of the children of the collective. Feed them breakfast and dinner, Keep them after school to entertain them and teach them about how the government is a better parent. Scare them into worrying about dead polar bears and preserving rocks and trees for future generations. Convince them that providing for themselves is secondary to Mother Earth. This would take a few generations to control the mindset . But, if they would have started 40 years ago, things would be hopping by now.

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b.a. c.
01/14/2010 5:33 PM

Actually, a little of both, Mike. Of course, you have to know that this was going on 40 years ago. Comics were 12 cents and you could get a ten inch Baby Ruth for a nickle. Still, a little 'preventative bribery' might work wonders these days. I'm so sick of hearing wailing brats in the stores that I hate to shop anymore.

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