It’s Friday and my wife and I have achieved something I think is outstanding. This week I payed off my student loan which was my last vestige of non-mortgage debt. It is super exciting to have finally reached this point in our lives and it has taken us over 6 years. It turns out in a little less than 6 years we have managed to eliminate over $65,000 in consumer debt. To me that is a staggering amount of money to have 1.) owed, and 2.) paid off. Next up, killing the mortgages, if I could just win the car battle.
Enough about me though lets check out this weeks links:
@Matt_SF postulates “What if Facebook became a bank?“. This is a pretty interesting article accompanied by a video. With Facebook now THE most popular site on the internet what would happen if they became a bank. Or even scarier what if they started doing social lending?
@Enemyofdebt submitted a story from guest author Dena where she talks about her financial journey. Much like me she had a good bit of debt coming out of college, this article is the first part of her story where she covers how she got into $60k of debt.
@EverydayFinance presents a contrarian view on Emergency Funds. I am on the fence about the “6 month” rule. I agree with this article in assuming you should be able to reduce the amount of money you spend while you are laid off and therefore requiring less “emergency” money.
@CarrieActually wants us to eBay our used or broken electronics. Personally eBay scares me, I hear too many horror stories of people getting burned on there. I have never tried to sell anything either though. This sounds like a great way to keep things out of the garbage and make a little money.
@MrsMicah presents 5 ways to hurt your credit without using credit. People don’t really think about it but you can severely hurt your credit score without ever getting any kind of credit. It is kind of scary to think that a late library book could cost you a decent interest rate on your mortgage.
Len Penzo ran the Carnival of Money Stories this week with my article Kids and Money it’s never too early to start.
Elle over at couple money is giving away a NetBook and Netbook kit. Enter win HERE.