Blogging Away Debt

Saving $200,000 in 6 Months? These Women Did It.

MP Dunleavy wrote an article on MSN about How to Save $200,000 in 6 Months. The title is a tad misleading at first, because it’s actually about a group of about 60 women that were able to save that much money in 6 months. But the article itself brings up some great points about the power of online support to help you reach your goals.

Lindsey Garver…helped to launch the Women in Red Savers thread, a message-board support and discussion group for anyone who wants to save for any reason, including those who don’t think they can.
“The main purpose of the thread is to get people excited about posting even a small amount,” Garver says.
[via MSN.com]

I think that was an awesome idea that Lindsey had, and there’s much to be said about finding others who are working towards the same goal and offering support to each other. With the internet, a group like that is only a click away.

I can attest that my blog has been the main tool for me to work towards our goal of paying off our debt. The accountability and the support from readers make me want to see this through (thank you!). In the end, I want to have one of those happy getting out of debt stories and that can’t happen if I quit before then.

I know blogging isn’t for everyone, but maybe you’d like to give something like the Women in Red Racers (racing to pay off their debt) or the Women in Red Savers (working to save money) a try. It doesn’t cost anything to try and who knows? Maybe having a little bit of online support can help you reach your goals.

Thanks Sheri for sending me the link! 🙂

I Know Why I’m Fat! It’s Because of My Credit Cards!!

by Tricia

I caught an article on Bankrate.com that suggests that credit cards can make you fat.

I’m fat (although working to change that! 😉 ). I have credit card debt. Is there really a connection?

The article claims that the convenience of credit cards make one spend more money than they would with cash or checks. Now that you can use credit cards in most fast-food restaurants, there’s nothing stopping you from quickly grabbing that burger when hunger strikes.

“In 2002 Visa USA conducted a poll and found that 32 percent of customers admitted that they had limited their drive-through orders because they did not have enough cash to pay for what they wanted. The ability to use credit cards eliminates that obstacle.”
[Via Bankrate.com]

I have mixed feelings about this. I do believe that the convenience factor of credit cards and the available credit make it easy to spend money you don’t have. We are a prime example of that. But I’m not so sure that they make you fat.

It also doesn’t sit well with me that the article is highly based on credit card spending studies per the assumptions below.

You use a credit card at fast food restaurants
You spend more with credit cards
Therefore, you spend more at the fast food restaurants and buy more food
Therefore, you get fat from eating more food
Therefore, your credit cards make you fat

Only one study discussed is related to weight, and that study only showed that supersizing a meal resulted in a weight gain of 0.07 pounds (comes out to roughly 1 pound gained for every 14 supersized meals). Again, another assumption is made in the article by suggesting that spending more with credit cards results in a supersized meal. When we occasionally have the fast food meal, we actually spend more now because I buy the more expensive (and healthier) salad!

All in all, this article needs more solid facts and less assumptions before I believe it. But then again, they wrote that credit cards can make you fat. There’s a bit of leeway there.

I was overweight long before fast food restaurants started accepting credit cards. I’m fat because I didn’t exercise enough and I ate too much. As much as I’d like to blame my credit cards, I can’t. It was all me.

Your thoughts?