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Straight Talk on Debt: Financial Dilemmas

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Even the best of financial experts have financial dilemmas from time to time. These dilemmas may involve debt accrued out of their control, unexpected life challenges, or the most creative way to save their hard earned dollars. No one has all the answers to every financial question and we could all benefit from learning from other's experiences.

Straight Talk on Debt: Financial DilemmasOne of the best ways I have found to deal with a financial dilemma is to research what others have done when faced with the same situation. It is always comforting to know that someone else has "Been in Your Shoes". Next time you are faced with a financial challenge and feel lost or want some advice find someone else that has experienced your issue; reach out in our community, visit one of the many personal finance blogs out there, pose your question via social channels, or confide in someone you trust.

Overcoming a dilemma is up to you! Here is some great advice on financial dilemmas you might face.

Spending Dilemmas

  • HOW TO HANDLE INFLATION @barbfriedberg "I am certain price inflation is here. I lived through periods last century of tremendous inflation and remember the effect. It's like you are getting a salary cut."
  • 5 Things You Can Do With Your Tax Refund! @DrDeanBurke "Yes, I'm sure you can think of some major splurge items you would like to have, but remember that a tax refund is not free money. Its money you earned that should have been part of your weekly paycheck. The only reason it wasn't is because Uncle Sam took more than his fair share. So don't blow this opportunity to make a positive impact on your finances."
  • 6 Ways to Afford College Now @freemoneywisdom"According to CNN Money, the average student currently graduates with approximately $25,000 in student loans. And that's for four years of education." 
  • How to spend your tax refund responsibily @krystalatwork "We've all been there before: you realize you're getting back a huge tax refund, and the first thing you do is start thinking about is that new expensive toy you could buy with the money (hellllo iPad 3!), or a holiday somewhere warm. The possibilities are endless!"
  • How Much Car Can You Afford? @doughroller "The general rule of thumb is that you should not spend more than 20% of your monthly take-home pay on cars, according to Edmonds.com."

Saving Dilemmas

Money Making Dilemmas

  • Earning More Money By Selling on eBay @elle_cm"One money earning idea that has worked is selling your stuff. Instead of focusing on Craigslist or yard sales, I'm using eBay. It's possible to make a bit of money on the site; my sister did quite well while in college as a seller."
  • Get Out of Debt: 5 Things to Avoid Selling @christianpf "Instead of just tightening the screws on the budget, you decide to take another step. You decide to sell something. In fact, you are so fired up about getting out of debt that you begin to look in every room, closet, box, and corner and you begin to think about just selling it all."
  • How to Make Money Selling on Consignment - Tips, Pros & Cons @MoneyCrashers "What do you think of when you hear the word "consignment?" I'll admit, it's kind of an outdated idea. But when funds are low, most people have to get creative about making money and shopping for new stuff, so the idea of buying and selling used goods doesn't sound so bad." 

Suzanne CramerSuzanne 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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  • You've hit on one of the great things about PF blogs, and the reason I started reading them. I'd rather hear what a real person who has been in that boat did, rather than what a professional advisor who may have a bias would suggest.

    Thanks for the mention!

  • @John Loved your article--thanks for being one of those "real" people who share their story--it truly makes a difference!

  • Thanks so much for highlighting my "inflation busting" article.

  • @Barbara Friedberg You are welcome it was excellent information!

  • Thanks a lot, Suzanne for sharing such a wonderful and informative article with us. Its really a fact that no one knows when bad time appears in his or her life and people find themselves drowning into debt. In the same way no body is perfect enough to fight with his debt alone. People must seek the help of the others and their experiences in order to get themselves out of the debt. I work for a debt settlement company and I also maintain a personal finance blog where people share their debt story as guest posts.

  • It's a great piece of content. Thanks for sharing it with us.

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