Comments on: Why Am I a Better Saver than Debtor?

By: chosha

chosha — Sat, 11 Aug 2007 16:28:54 +0000

I’m not saving at all at the moment. I just want so badly to be out of debt, that saving just seems like a good way to keep paying interest on some part of a debt that could have been paid off. I like paying debts off gradually rather than in one lump sum, for the same reason – I know I’m paying less interest that way. I like those moments when the debt slips under the next thousand. That’s when I acknowledge that I’m making progress, albeit slowly.

By: Grace

Grace — Fri, 10 Aug 2007 21:30:07 +0000

I hear you, Mapgirl. I should be in the front row, madly waving my hand and admitting that (finally–after years and years of never saving)I am saving well. But the debt is going down ever so slowly–right direction, just not very fast.

I’m sure it has to do with the “out of sight, out of mind” pre-tax deduction that allows me to save in my 401 (k) without seeing the cash in my paycheck.

By: Matt

Matt — Fri, 10 Aug 2007 10:57:22 +0000

Taking the credit card(s) out of your wallet is best first step in getting rid of that debt. I’ve done exactly the same thing with my credit cards.

By: fcc

fcc — Thu, 09 Aug 2007 22:12:22 +0000

I do the same thing with credit cards. I don’t carry them at all. I tend to carry my debit card everywhere. This way I don’t spend over my budget.

I think it takes the right discipline to stay out of debt.

By: Sistah Ant

Sistah Ant — Thu, 09 Aug 2007 19:11:40 +0000

actually, i’ve never noticed if i’m better at one than the other – but i have noticed that i can’t do both well at the same time. i like to concentrate on one or the other. saving and debt repayment fight too much, so i’m just concentrating on one at a time.

By: Clever Dude

Clever Dude — Thu, 09 Aug 2007 17:44:07 +0000

I lean the other way. I love to pay down debt, but I loathe just sending money to the savings account.

Luckily when we sell our Malibu, we’ll have about $11,000 or so extra in the savings account. I’ve been wanting 6 months of living expenses saved up, so that will definitely help.

By: plonkee

plonkee — Thu, 09 Aug 2007 17:04:32 +0000

Can you set up your credit card so that you pay off a specific dollar amount each month (one that you’ve calculated will pay off the loan) and then cut up / freeze etc the cards?