Mo Money, Mo Problems?...err how about No Money, Mo Problems

So, a couple weeks ago I decided to take a long hard look at my finances. I realized that....I was poor. Poor as in, I wasn't doing a good job of saving, cutting back how much money I spend and ultimately being a good steward of my money. So I began to do what I usually do when I have a problem that I want to learn how to fix - I dive into information. So I scoured the net for all sorts of information on how to deal with money problems. One of the key issues I wanted to tackle was debt. Popping out from the womb of a University means a few things:

1) Knowledge + No Debt

2) Knowledge + Debt

3) No Debt

4) Debt

I'll take whats behind door numberrrr TWO!!! What? A lifetime of school loan debt? Hmm....doesn't seem like the kind of game show you want to be on huh? Many of us don't.

So...Operation Get My Azz Out of Debt has begun! Now I've added some new links over here and one of them is a website with Joel Maxwell and his wife's decision to get out of debt completely. Check them out with the link over there. His blog basically chronicles their lives in getting out of debt. Join the bandwagon folks!! No one can get you out of debt except a) the lottery or b) you

And guess what...the lottery aint gonna happen. And if you had a rich uncle Benny in Palm Beach, after he died you would find out he left all his money to his 3 imported spider monkeys. So there goes that.

In any case, here is an excerpt from Joel's June 1 entry. Very important concept of using cash to buy stuff:

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June 1, 2006
Paying Cash…Again
Filed under: General — Joel @ 1:30 am
Several weeks ago I wrote a post about paying cash, and how important it is for a variety of reasons. This past week I have re-visited this need. Don’t worry, I haven’t fallen off the wagon and started using my credit cards again.
Among the many things we discovered upon returning to our home this past month was a large number of unopened Wal-Mart items that we thought we needed a year ago, but were quick to decide to return now. We in fact had over $130 of stuff. We had Wal-Mart put the money on a gift card when we returned it. With a temporary pay issue with the Army because of my transfer, this gift card filled in great as our grocery envelope.
Why all this is noteworthy is really amazing. I have been really disciplined with my money the last several months, so I didn’t think it was possible, yet the card disappeared in less than one week. It usually takes two weeks to spend that much cash on groceries. There is just something about spending actual cash that makes you spend less. You really have to feel the pain!
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Let that marinate.