A Straight Talk on Debt

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Straight Talk on Debt: Everyone Has a Choice

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Every morning when I wake up I am blessed with the freedom of choice; coffee or tea, oatmeal or eggs, and yes even the choice to spend or save.

We are all faced with choices each and every day on everything from breakfast to our finances and making the "right" choices is not always an easy task (I really would like to eat pancakes every morning).pancake

For some of us the "wrong' choices have landed us in debt. But don't let those choices haunt you forever; there is always the chance to make "smarter" choices. This week's reading is all about making choices; we all make mistakes sometimes but armed with this information you will be able to make educated choices when it comes to your finances. In other words choosing eggs, over pancakes.

To Spend or Not to Spend 

  • Conscious Spending: What is It? @MarriedWithDebt "According to Ramit Sethi, conscious spending is simply laying out a plan in advance for how you will spend your money. This includes bills, groceries, entertainment, investing, saving, hobbies, etc. By laying it all out in advance, you are making deliberate decisions with your money." 
  • The Real Purpose of Tracking Your Spending @MoneyCrush "But tracking your spending can change your life. That's because the real purpose of tracking your spending is to give you insight into what you're actually doing (instead of what you think you're doing.)" 
  • Can You Live a Cash Only Life? @AllFinance "This may sound like a silly question but credit card companies would lead you to believe it is not possible to live a cash only life. Their marketing teams push hard to make us believe life without a credit card is just not possible." 
  • Your Bad Financial Choices Affect Others @applecsmith "Even if you're a young single person with no kids, your personal choices still have a ripple affect on the people you care about." 
  • Got Kids? Here are 10 Tax Benefits For Parents @TheMoneyCoach "Little wonder that, in the past decade alone, the cost of raising a child from birth to age 18 has risen nearly 40% to $226,920. And since those figures don't even include college, just send my husband and me to the poorhouse now. We've got three kids to raise, and every year the costs of everything seem to only increase." 

Talk About it or Keep Quiet 

Pay off Debt or Keep Charging

  • Pay Off Debt Faster by Using the Right Financial Tools @EnemyofDebt "The fact is that you are more likely to pay off your debt if you have a plan to guide you through the mud. Let's face it. We need to see and visualize what we're doing and how long it will take. If we say we want to pay off our debt but have no idea when it will happen, chances are we won't make much progress towards reaching that goal." 
  • Want to Get Out of Debt Fast? Just Use Super Powers! @SoOverDebt "Getting out of debt really isn't very exciting. Don't get me wrong - sometimes I squeal a little when I make an extra payment, and I threw a virtual party when I paid off all my credit cards - but I've noticed that the process is largely full of dull milestones over years of hard work." 

Eat Healthy or Unhealthy 

Photo Credit

Suzanne Cramer, CareOne Debt Relief Services Social media specialistsSuzanne Cramer   

Suzanne is a certified credit counselor and a Social Media Specialist for CareOne Debt Relief Services. Suzanne writes for Divorce, Debt and Finances and A Straight Talk on Debt. Follow Suzanne on Twitter @SuzanneCramer1  and @AskCareOne where she shares her insights on divorce and managing your finances.


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  • Thanks for the mention! Great point about letting the bad choices haunt us. This is one of the hardest things to master in personal finance. The ability to look at the "sunk costs" and chart a new course is a great skill to learn. Once you are in a hole, stop digging!

  • Really good post. You've included a comprehensive list of quality posts. Very nice.

  • @John You are welcome--choices are especially tough when it comes to personal finance.

    @TheDailyThinker Thank you-glad you enjoyed it--this week's round up had some awesome posts!

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