Friday, April 07, 2006

Debtspiration.com



Okay, I'm going to unveil my latest rough-around-the-edges creation:

Debtspiration

I am quite sure most people will glance at that site and click the back button. I mean, it's just lots of quotes regarding debt-paydown and financial literacy and stuff, right?

Pretty much. However, in my own life, I've found that little dashes of inspiration and motivation like these have taken me a long way. I'm willing to bet that there are at least 2 or 3 other people out there who are built the same way. That site is for them.

And since I love to read financial books so very much, I figured that sharing pointed quotes every day or so from various authors, as well as other financial bloggers, might be an easy-to-maintain way for me to spread some of the wealth that I've discovered over these last several years. This stuff has changed my life. Honestly. I see more truth in these writers' words now than I'd have ever thought possible.

One of the pages from my main site that has always gotten some nice traffic is my Quotes 'n' Such page. I always kind of wanted to expand on that, but IYM's space, format, and organizational methods prevented it. Now's my chance, I guess, to expand it at will, courtesy of Wordpress. We'll see how it goes.

Anyhow ... you may now return to your regularly-scheduled programming. Pardon the interruption.

Labels:

— Posted by Michael @ 12:32 AM








12 Comments:
 

I really like that Jerrold Mundis quotation about avoiding debt one day at a time--it's definitely advice I can dispense to some friends of mine.

Oh, and bonus points for the witty website name!

 

Now that you've basked in the glory of Wordpress, I'm waiting for news that you're abandoning the blogger ship :)

 

Jesse,

Oh, I know all about Wordpress. I like it a LOT. However, the thought of moving all my Blogger posts into Wordpress sends chills down my spine. And also the subsequent demolishing of whatever Google love I've built up so far.

 

Michael, I couldn't help but notice there were no quotes from David Bach on Debtspiration. Let it go, man...you'll live longer!!

This week I read his Automatic Millionaire Homeowner book (went to his seminar Monday here in beautiful Chicago and received it free!) I think it's a solid resource for the average Joe/Jill out there. It's a basic overview of the entire real estate process, including managing your credit score. For the millions of clueless people out there, it fits the bill. For the rest of us, only a few nuggets may be gleaned...but that's better than nothing. Sorta like that credit card arbitrage that you love so well...it's better than nothing!

Anyway, he does warn folks in Chapter 11 not to get in over their heads and points out the following warning flags so one can determine if they're really ready to buy:

1) You put nothing down
2) You took out an interest-only mortgage
3) You took an option mortgage, and you are paying the minimum allowed (negative amort.)
4) You don't have a savings "cushion" big enough to cover several months' worth of mortgage payments.

Thanks for the forum to add my 2 cents! Have a great Easter!

Stacey

PS Have you read T. Harv Eker's, Secrets of the Millionaire Mind? Again, a few worthwhile nuggets...but I'm glad it was a loaner from a friend--you know how I hate books as a "Latte Factor"!! (wink)

 

After reading my comment, I wanted to clear up a poorly placed phrase! I meant Chapter 11 of the book, not folks who have pursued Chapter 11. Sorry for any confusion!

Stacey

 

Stacey,

FYI, I have some David Bach quotes lined up. :)

Interesting - that part you mention from his book, the thing about warning flags. I'll have to go back and rewatch, but it sure seemed on yesterday's Oprah "Debt Diet" show that Bach, in all his zealous promotion of homeownership, thinks that banks' willingness to make "No Money Down" home loans is a BOON to potential homeowners.

But perhaps, in my disdain for him, I completely misread what he was saying.

Got to watch it again.

 

This post has been removed by a blog administrator.

 

Thank you so much for providing that content. It is very helpful (I get stressed out about debt a lot.)

 

This is fantastic, and really hits the nail on the head! Sometimes you just need a little *push* and I'm bookmarking this one! Thanks for putting it together.

Anonymous Anonymous
, at 7:32 PM, April 14, 2006  
 

The new site looks really good. I have started to cut out my spending. I have been looking at the grocery savings sites. Have you heard anything about thegrocerygame.com or groceryguide.com, and if they really work or not?

 

Happy,

Thanks for the kind words. Those grocery-savings sites work just fine, from what I've heard, but you'll have to decide how much running around you're willing to do in order to get the savings.

 

I think it's cool. Keep it going. I suggest adding Feedster to it. Looks good. There's a ton of quote sites but none that I know of that focus on debt. Great idea!

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


100%

Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]

100%

Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]