Adam Baker of the site Man vs Debt showed me another spin on the paying down of debt in his “Debt Tsunami: The Ultimate Method For Paying Off Debt.” I’ve made a point that paying debt highest rate first was surely the fastest way to get out of debt altogether, and been critical of Dave Ramsey’s Debt Snowball for its method of paying low balance to high. Adam takes a look at “a loan from the inlaws” and how paying it back would reduce tension between the husband and wife, making them both feel better. So while Adam admits the high interest payment first method may be the logical choice, it can easily fail to be the better one. I’m open to new approaches, and appreciate his fresh view on what for me was an old topic where I was digging my heals in.
A number of blogs have posted on the credit card reform act, including Bargaineering, Five Cent Nickel, and Tough Money Love. I’m editing my own commentary on this legislation, to post early this coming week. It’s not a black and white issue, that’s all I’ll say on that right now.
Next, I read a year old post by Trent in The Simple Dollar titled, “Frugality and the Impression of Poverty.” An interesting take on the social pressures that may prevent us from doing some of the frugal things we’d otherwise do. This post flows nicely into the more recent, “Accused of Being a Cheapskate,” a post that digs in a bit on the the topic of frugality and the negative connotations that sometimes follow.
Last, I’d like to share an image I came across on a Japanese recipe site.
I can’t put any more words to this. The image speaks for itself.
Joe