Comments on: Do It Yourself Debt Reduction. http://www.mytwodollars.com/2009/02/12/do-it-yourself-debt-reduction/ A place to discuss money...for the rest of us. Fri, 10 Feb 2012 05:21:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: frugalCPAhttp://www.mytwodollars.com/2009/02/12/do-it-yourself-debt-reduction/#comment-31513 frugalCPA Thu, 12 Feb 2009 16:15:36 +0000 http://www.mytwodollars.com/?p=1923#comment-31513 Good advice. You do need to commit, and you need to do everything you can to get rid of debt. I think it's also important to clarify that most people will not be able to eliminate EVERYTHING that's not an absolute necessity from their lives, even if they wanted to. Rather, each person needs to figure out what is realistic and sustainable. If you have 8 years' worth of debt, you're probably going to want to go on at least a few vacations during that time. Inexpensive ones, yes. Necessities? No. Worth it? Most likely. Good advice. You do need to commit, and you need to do everything you can to get rid of debt. I think it’s also important to clarify that most people will not be able to eliminate EVERYTHING that’s not an absolute necessity from their lives, even if they wanted to. Rather, each person needs to figure out what is realistic and sustainable. If you have 8 years’ worth of debt, you’re probably going to want to go on at least a few vacations during that time. Inexpensive ones, yes. Necessities? No. Worth it? Most likely.

]]> By: Neal Franklehttp://www.mytwodollars.com/2009/02/12/do-it-yourself-debt-reduction/#comment-31512 Neal Frankle Thu, 12 Feb 2009 16:01:42 +0000 http://www.mytwodollars.com/?p=1923#comment-31512 I like this post. I just wonder if the third step shouldn't be the first. In other words, a person got into debt for a reason. Unless that issue is addressed, that person will likely find themselves in this exact same position time after time. For my two dollars, that's the most important step but I still think this is a very helpful post. I like this post. I just wonder if the third step shouldn’t be the first. In other words, a person got into debt for a reason. Unless that issue is addressed, that person will likely find themselves in this exact same position time after time.

For my two dollars, that’s the most important step but I still think this is a very helpful post.

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