Act 95

Pay a little more, a little sooner.

It’s all about momentum. Once you start seeing results, start paying a little more a little sooner on your debt. It adds up. And use whatever windfall you come across (even a very small rebate from your credit union or a tax refund) to put towards it to and focus on one goal at a time. If you see progress, you’ll want more of it.

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Act 56

Go Public.

I started this blog because I wasn’t doing enough to defy my debt. I kept thinking it was a later problem when it’s a now problem.

People who are in debt are rarely part of the conversation about debt. I want to change that.

By building a daily blog post into my routine, I force myself to make conscious and conscientious decisions about my debt every day.

I didn’t go public to solve the problem. I went public to have a record of how to solve the problem. Debt is the number one concern of Canadians. So I figured I would find at least a kindred spirit or two in my pursuit. And I’m so relieved to report that I have and grateful for the kind words of support. Your stories are important. We need to talk about it. We need to fix it. We need to commit our debt to the past.

The story of my blog got picked up by Ellen Roseman, the personal finance columnist for the Toronto Star.

Debt is a product that is packaged, priced, promoted and sold. It’s no wonder the banks are making record profits. I bought in and I’ve been paying for it ever since. It’s time to change that one debt defying act at a time.

The story here:
http://www.thestar.com/business/personal_finance/spending_saving/2013/02/24/entrepreneur_plans_to_reduce_debt_by_going_public.html

Debt Defying Acts – Commit yours today. And share if you want – I’ll repost your ideas.

Act 03

Get an oil change

Sometimes ignoring a small maintenance issue can lead to big (and expensive) problems. And while you’re at it, check your tire pressure, windshield washer and consider a quick car wash. Taking care of an existing asset is a form of saving money too.

I went to the Great Canadian Oil Change drive-thru service in Salmon Arm. Twenty minutes and fifty dollars later, my ride is good as new(ish).

Act 02

Make an appointment with your banker

I made an appointment with my financial institution for a “check up”. Like visits to the doctor or dentist, it’s important to check in with your bank or credit union regularly to ensure you’re getting good service and healthy advice.

Interest rates are at record lows and credit card debt is at record highs. Ironically, it’s much more difficult to access cost effective debt and it adds to the burden on Canadian families while Canadian financial institutions benefit from record profits.

I’ll let you know how I make out.

Act 01

Draft a personal budget

I drafted a personal budget for 2013. An honest one. Nothing fancy. Just a list of my revenue and my expenses so I can see where the money comes in and where the money goes out. I also did the same for my small business. Now I have a more realistic sense of exactly what lies ahead.

as seen on pinterest

as seen on pinterest

Gail Vaz Oxlade of  the television series Till Debt Do Us Part has great resources on her site Debt-Free Forever. Her budget work sheet and get out of debt worksheets were particularly helpful for me.