Debt Blogs

Reading the NYT this morning sent me to this blog. "Blogging Away Debt" is a blog about a couple that are tired of being in debt and are trying to do something about it. A brief read of the blog shows that it has some worthwhile suggestions.

Being involved with a Credit Union has shown me just how financially bad off many people are in our area. Personal savings rate in the USA went into negative territory in the 2nd quarter of 2005. People are actually spending more than they are making. Very much like most State governments and our Federal government.

It's understandable how people can fall into debt, especially inside the Blue Line. But what bugs me is the way many people will simply shrug their shoulders and walk away from the debt. Maybe that's easy for me to say. While not miserly at all (in my opinion), I tend to think quite hard before spending a dollar. "A want is not a need" is a great New England motto to live by. The best advice I can give CU members that have fallen into debt is don't walk away from your debt, it hurts you and every other member of the CU. Rather, talk and work with your CU loan officer to find out what options are available.

A couple of other "dollar related" blogs that I read include "Free Money Finance" and "The Consumerist", both highly recommended