People just starting to get out of debt often struggle to decide where to allocate their money. Each person needs to make their own list based on their own priorities and circumstances, but Debtor’s Anonymous member Wittygal’s payment priority list may serve as a decision guide:
money
![Making Only Minimum Monthly Credit Card Payments Could Mean Paying Double For Everything](../../../../consumermediallc.files.wordpress.com/2012/06/creditcardmonthlypayment.jpg?w=300&h=225&crop=1)
Making Only Minimum Monthly Credit Card Payments Could Mean Paying Double For Everything
This chart, via OnMyOwnTwoFeet, shows the incredible costs if you incur $5,000 in credit card debt and only make the monthly minimum payments. By the time the debt is paid off, you’ll have effectively paid double the original debt.
Just Put The Word "Money" In Front And Everything Sounds Better
Try putting money in front of any noun. All of a sudden, it sounds much better. Try it. Money couch! Money shoes! Money cat!
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List of Debtor’s Anonymous meetings by state. [Debtor’s Anonymous]
![90% Of Households Think They Carry Average Or Below Average Amount Of Debt…](../../../../consumermediallc.files.wordpress.com/2012/06/happyhouse.jpg?w=300&h=225&crop=1)
90% Of Households Think They Carry Average Or Below Average Amount Of Debt…
A CreditCards.com survey found that 90% of respondents thought their household had “average” or “less than average” amount of debt.
![Minimum Wage Bumps Up To $5.85 This Week](../../../../consumermediallc.files.wordpress.com/2012/06/mcdcreepy.jpg?w=200&h=203&crop=1)
Minimum Wage Bumps Up To $5.85 This Week
The federal minimum wage is rising to $5.85 this week, up from $5.15. The change is part of a plan to give minimum-wage workers an additional 70 cent boost each summer until 2009, when the minimum wage will be $7.50, or about $15,000 a year before taxes and without taking time off.
![Professor Says Textbooks Are Too Expensive, Quits Using Them](../../../../consumermediallc.files.wordpress.com/2012/06/hammond.jpg?w=200&h=155&crop=1)
Professor Says Textbooks Are Too Expensive, Quits Using Them
Ron Hammond, Phd, professor at Utah Valley State College, has quit using textbooks in his classes. Why? They’re too expensive.
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Warren Buffet likes index funds. [Bankrate]
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Sample Letter For Disputing A Debt Collection Notice
If you’ve received a notice from a debt collector, but have reason to believe you don’t actually owe that debt (or owe a lot less than they say you owe), federal law gives you a brief opportunity to force the collector to demonstrate that you do indeed owe this debt, and to stop trying to collect on it until they have verified you are the one responsible, and that the money is still owed. [More]
![Cut Spending With Flickr And A Cameraphone](../../../../consumermediallc.files.wordpress.com/2012/06/buyingbooze.jpg?w=178&h=134&crop=1)
Cut Spending With Flickr And A Cameraphone
Here’s an idea for people trying to get a lock on their spending but find writing down everything too fascist. What about taking a picture of everything you buy with your cameraphone and uploading it to Flickr?
![3 Common 401(k) Mistakes](../../../../consumermediallc.files.wordpress.com/2012/06/pennysaved.jpg?w=300&h=225&crop=1)
3 Common 401(k) Mistakes
The 401(k) is one of the best ways to maximize your retirement savings. After all, if the company matches your contribution, you start off with a 50% to 100% gain right off the bat. That said, many employees are not making the most of the potential locked in their 401(k)s. Here are some of the most common mistakes, according to Vanguard:
![Reading The Bible Will Make You Rich](../../../../consumermediallc.files.wordpress.com/2012/06/bibleandglasses.jpg?w=178&h=134&crop=1)
Reading The Bible Will Make You Rich
No matter your spiritual disposition, those guys who wrote the Bible knew a thing or two about holding on to your shekels.
![Personal Finance Roundup](../../../../consumermediallc.files.wordpress.com/2012/06/monoopolymoney.jpg?w=178&h=127&crop=1)
Personal Finance Roundup
A Look At The Consumer Action Handbook [The Simple Dollar] “I thought I’d give this free document a walk-through similar to one of my book reviews.”
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20 must-know credit scoring terms so you will know how to understand your credit report [Bankrate] (don’t forget you can get your free credit report at annualcreditreport.com)
![Put Your Wallet On A Diet: Tips For Avoiding The Dreaded "Costanzawallet"](../../../../consumermediallc.files.wordpress.com/2012/06/costanzawallet1.jpg?w=220&h=165&crop=1)
Put Your Wallet On A Diet: Tips For Avoiding The Dreaded "Costanzawallet"
Dumb Little Man has some tips for you super Costanzawallet dudes. Deep in your heart you know you don’t want to carry around a wallet this big. Aside from causing you to list to port whenever you sit down, carrying around a complete record of your financial transactions since the mid-80’s is not wise.
![Are You Addicted To Debt? Take This 15 Question Quiz](../../../../consumermediallc.files.wordpress.com/2012/06/debtaddict1.jpg?w=300&h=225&crop=1)
Are You Addicted To Debt? Take This 15 Question Quiz
If you answer yes to at least of these eight questions, you may be addicted to debt, according to Debtor’s Anonymous.
Visa Tap-N-Go Ads Piss Us Off
We loathe these Visa commercials. They show commerce going along like clockwork. People paying with their tap-and-go Visa card. Getting their donuts. Until one guy pay with cash. Everything screeches to a halt. He gets looks from the cashier and other customers.