Carnival of Debt Reduction #76 – Free Debt Reduction Seminar

February 26, 2007

Welcome to the 76th Carnival of Debt Reduction. Hold onto your hair pieces, and get ready to do the happy dance! Pay close attention to the topics we’re about to cover and you too can celebrate like the guy in the video. This debt reduction seminar will cover the following topics:

  • How to Get Out of Debt
  • Psychology of Debt
  • Featured Product – Debt is Slavery
  • Saving Money

Plus, if you subscribe to my feed in the next 5 minutes, you’ll also get several bonus features. Okay, you’ll get the bonus features either way but I promise if you subscribe you’ll get some pretty good content on a daily basis.

In addition, make sure you check out the Super Bonus Feature at the end of the seminar to see how you could win $50. We also have a special treat for anyone in this seminar looking to make some extra money with our “Money Making Secrets of Entrepreneurs” series. See details at the end of the seminar.

How to Get out of Debt
We’ll start off the seminar with some speakers who will provide concrete steps to helping you get out of debt.

Leanne tells us the steps she used to get out of debt in How I paid off my debt in 26 months….. posted at Change can be a good thing.

NCN tells us how to survive without credit cards in No Credit Cards Needed posted at No Credit Needed Blog.

Pushpa Sathish lets us know how to avoid lenders tricks in an extensive list in Avoiding the Debt Trap: 17 Hidden Tricks Lenders Use, and How to Avoid Them posted at Debt Consolidation Lowdown.

Jimmy Atkinson shows us how to borrow our way out of debt with How to: Make Money with Balance Transfer Arbitrage posted at Ask the Advisor.

Pay off debt by living in your car, or without a car. That is the question Nina presents in Sleep in Truck: Student Pays Off Credit Card Debt posted at Queercents. This is not a specific how to list but it is a real life example of how to make sacrifices to get out of debt.

That concludes the first portion of the seminar. We’ll pause now for restroom break. Refreshments are provided, simply get up from your chair and check your refrigerator. If there’s nothing there that you like, we apologize. What do you expect, this seminar is free after all.

Psychology of Debt
Welcome to the second part of the seminar. Getting into and out of debt is largely controlled by how we think about money. Learn from the next set of presenters how to use Jedi mind tricks and other mental tactics to control your debt.

randomleekind talks about the psychological approach to the Debt Snowball as well as two other methods in The Debt Snowball posted at Building Wealth Magazine.

Mr Credit Card explains how to out think debt by “taking a big burden and breaking them into smaller burdens” with Setting Biweekly or Monthly Debt Reduction Goal posted at Ask Mr Credit Card’s Blog.

Golbguru talks about how you don’t have to rely on others, especially Dave Ramsey, to creat a plan for debt reduction in I Didn’t Need Dave Ramsey To Get Out Of Debt posted at Money, Matter, and More Musings.

King of Debt warns us not to get caught up in the mindset of a “desire to acquire” with Why Did You Get In Debt? posted at We’re In Debt.

Dana reminds us of the power of ideals such as liberty and freedom in Give me liberty or give me debt posted at Principled Discovery.

Sarah Winfrey warns that starting a budget might raise more questions than answers with Balancing Act: The Perils of Budgeting posted at Wisebread Debt.

Featured Product – Debt is Slavery
Now that you’ve absorbed all this free information its time for us to sell you something. We bring you below, two positive reviews of the book Debt is Slavery. Proceeds from the purchase of this book will go to Money Smart Life to help fund the facilitation of future free seminars.

mbhunter presents Debt is Slavery, Part 1: Do people have your best interests at heart? posted at mbhunter.

Tim presents Debt Is Slavery – A Book Review posted at MyMoneyForest.

Saving Money
Thanks for buying the book. On to the next part of the seminar. Obviously, one way to get out of debt is to spend less money. Use these next set of tips to save some big time cash.

Silicon Valley Blogger compares a series of two similar items with huge price differences in Test Your Buyer’s IQ: Quit Wasting Money On Costly Crap posted at The Digerati Life.

Steve Faber presents ways to save on health care, cut your taxes, and perform cost benefit analysis with 3 More Money Saving Ideas to Help You Get Debt Free posted at Debt Free.

David E. tells us ten ways to save lots of money in 10 Simple Ideas to Save Thousands of Dollars per Year posted at Worldwide Success.

Bonus Features
As promised, here are your bonus features, regardless of whether you subscribed or not.

David Weliver presents When is it Time to Move from Saving to Investing? posted at Money Under 30.

Andy presents How I plan on using my tax return posted at moneywalks. Good job Andy on using your tax return to pay off credit card debt. I don’t know your interest rate but I bet if you reduced your tax withholdings and paid more each month towards your credit card balance you’d be out of debt even faster.

Ironman presents Political Calculations: Chopping Time Off Your Loan posted at Political Calculations.

j presents Should Borrow Money To Pay Off Debt? posted at War on Credit Cards.

Super Bonus Feature
If you’ve ever been burned by payday loans or any other type of high interest borrowing, check out the contest I’m running here to find out how you can get back $50 of the money you lost.

Money Making Secrets of Entrepreneurs
In honor of Entrepreneurship Week USA we’ll be covering various aspects of being an entrepreneur and I’ll be featuring interviews with a variety of entrepreneurs this week on Money Smart Life. Be sure to check back throughout the week and see how these entrepreneurs have made their money.
Thank You & Good Night
The presenters for this seminar were excellent, thanks to all the participants for submitting quality and relevant content. Stay tuned next week when the Carnival of Debt Reduction will be over at Climbing Out of Debt

Make sure you check out the Carnival of Personal Finance Celebrity Edition just launched today over at Binary Dollar. Thanks for attending the semiar, be sure to tell your friends about it, now go reduce some debt!


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Ben Edwards, the founder of Money Smart Life, saved up enough to buy a Nintendo back when he was 12 years old. When he used the money to buy shares of Wal-Mart stock instead, he knew he wasn't like the other kids... His addiction to personal finance has paid off for his family and now he's helping you to afford the life that you want. Check him out on the web at Google Plus, Twitter and Facebook.

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