rocket finance

138th Carnival of Debt Reduction

Coming to you from the great state of Colorado: it is the 138th Carnival of Debt Reduction. I want to thank Mighty Bargain Hunter for giving me hosting privileges for the week.

Now, on with the show –

This week’s top picks are from Not the Jet Set and Digerati:

Not the Jet Set proclaims the frugal virtues of frozen pizza. I remember that frozen pizza was a pretty good option in college. However, the fact that my roommate and I would each eat an entire pie did not make it a cheap meal. Unfortunately, ramen noodles were the most frugal (and less tasty) meal.

Digerati suggests ways to make 10 ordinary things last longer. I especially liked her suggestions regarding razor blades and soft soap. It always bothers me when our kids use about 4x as much soap as they really need and Mrs. Rocket will not be storing her razor in the shower anymore. Don’t ask, just read the article.

Enjoy the rest of this week’s submissions:

American Consumer News reminds us that your vehicle might be breaking your budget. There are a great many hidden costs to car ownership. Our car insurance just increased $40 a month because of our recent move. My car salesman didn’t mention that during negotiations.

I liked PaidTwice’ post about how life does not wait for us to get out of debt and even though PT does not include Rocket Finance in her blogroll, her opinions on and approach to debt are right on the money (pun intended).

No Credit Needed presents part 2 in his series entitled Debt Reduction Guide. He outlines several easy ways to save interest every month.

My Daily Dollars shares her budget busters. I can safely say that I do not struggle with anything on her list, but Mrs. Rocket and I sometimes create a bit of friction regarding #5 . . .

Boy, am I glad that my wife does not read this blog.

Ana from Debt-Free Revolution posted her opinion on the latest debt related news from Congress and the Fed. Ana is not a friend to or a fan of credit card companies.

If you hadn’t noticed.

The Campus Grotto offers some helpful advice on student credit cards. The advice is good, but while I am a credit card user, I’m not sure that easy credit is an expedient tool for a college student. Those on-campus Starbucks are just too convenient. . .

Personal Debt Management posits that by developing a budget, one can increase income. While I’m not sure that I buy the theory completely, I get the point. Budgets are knowledge and as G.I. Joe reminded us in the 80’s, “Knowing is half the battle”.

No Debt Plan and Living the Cheap Life both offer advice on what to do with your stimulus check. NDP suggests paying down debt, saving or investing. LCL suggests using it at a grocery store that is offering to a 10% bonus on the money. We are leaning toward the latter . . . although a 40″ flat screen with surround sound is also a possibility.

Just kidding.

Discover Debt Freedom summarizes several bad financial habits that we must break in order to expedite debt reduction. #2 is one of the most ill-considered decisions that people make. I personally have fallen into this trap in the past, but will never “go there” again.

Organize It of the UK lists 7 ways you can stop wasting food and save the planet. We definitely don’t want to waste food, but our reasons have nothing to do with saving the planet. We at Rocket Finance don’t put much stock in the theory of man-made global warming. But that is a topic for another day. . .

Christopher Johnson explains the difference between several types of mortgages. I always get my balloons mixed up with my ARM’s.

Picture of Wealth discusses the importance of writing down a financial plan – not a budget – a financial plan.

Your Finish Rich Plan implores you to achieve debt freedom by any (legal, I assume) means necessary and his post basically summarizes the content of all of personal finance blogdom. Good stuff.

That’s it! Thanks to all who submitted and look for next week’s edition at Debt Free Revolution.

Now, back to my pizza.

Photo by Pirate Johnny.