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  1. December 2nd, 2011 #1
    chitowndemon
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    hello from chicago

    hello savvymoney world,
    this is mike from chicago. i'm new here and i just found the forum. i found it relieving to finally have a safe place to talk about my debt struggles! it looks like savvymoney has me off to a good start so we'll see where it goes.

    what are some tips you guys out there can share with me? as the new guy i'm all ears?
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  2. December 2nd, 2011 #2
    ThriftyMan
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    Mike, welcome to SavvyMoney

    My two tips are just sort of big ones:
    First, have a plan. 2/3 of people trying to get out of debt don't have a plan so they don't make much progress. But people following SavvyMoney pay off over $6000 of debt per year--5x faster than people who don't.

    Second. Quit spending on credit. I know it sounds stupid, but it's important. Even if you think you'll just pay off that much more with your payment, most people don't. We've looked at it and people who quit using credit cards pay off $900 more per year.

    Both are obvious, but important.
    Scott started SavvyMoney because he passionately believes that life is better without debt. Since everyone should have a superhero name, Scott decided that ThriftyMan pretty well described his mission to save the world. Scott used to market credit cards, but now dedicates himself to people out of debt.
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