Would anyone be interested if I post some debt eliminating tips each day?

Question

I have found a big list online, and I would like to share with you all. Someof them are helpful and some are not.
Here are todays 7 tips:

Don’t get into debt. Use cash for all your purchases and don’t take on any debt except home and auto.

Spend less than you earn.

When debt is closed out, put 60% in savings and enjoy the remain 40%.

Take stock of all your liabilities, so you know exactly how much you owe to the world. Put them in a spreadsheet, with monthly payments, interest amounts, balances, and a running grand total of all your balances. Update it monthly as you pay off debt, and watch the overall amount go down slowly. It’s very motivational.

Have only one credit card with a low limit, and only one loan with monthly payment not exceeding 25% of income.

Build up an emergency fund first. If you come into extra money (tax returns, etc.), use it to build an emergency fund and pay off debt after that.

Cut up your credit cards.

Did this help you at all?

I found this online written by one person who wrote a book about debt. You can not blame me if some of these are not true. I did not write it.

Answer 1

i found what you posted very useful! thank you!!!!

Answer 2

It helped but I don't agree with the second sentence of tip #1. In today's world you need to establish credit and if you pay cash for everything you're considered a higher risk than someone with bad credit.

Answer 3

This doesn't strike me as useful.
People get into debt, because they can't live on their income.
They do not appreciate how interest affects their debt.
All that advice is no help to people who are in debt;-{
except for the one about managing it in a spreadsheet.
People do not have the disposable income you suggest.
They are paying too much in rent & for power/fuel.

Answer 4

It cant hurt. Go for it mate.

Answer 5

I don't have money - I have rupees.

Answer 6

I don't have any debt, but thanks anyway.