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The Jam: Ep. 2: Road out of Debt!

In this episode, host Bridget McManus talks money and gives great advice from member NSchulman24's blog post called "The Long Road Out of Debt," which gives six must-do tips that are sure to help anyone. Bridget also recommends a great book by Dave Ramsey called "The Total Money Makeover: A Proven Plan for Financial Fitness," which demonstrates a no-nonsense approach to achieve financial health.

In this episode:

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Anonymous's picture

Bridget is great.
Get outta debt!

Anonymous's picture

I heart Bridget so of course I'm a huge fan of the jam.

Anonymous's picture

I like the fury sidekick and Bridget too.

Anonymous's picture

I thought this was a wonderful episode. However, I would like to add something else to the mix. I've never read the original blog that Bridget pulled this information off of, so I have no idea if this was mentioned. She says something about getting another job if you can't afford your lifestyle. That's a great idea, but make sure your being realistic in your living. If you are materialistic then you are never going to make enough money. I really encourage people to live within their means, not how they desire to live.

Also, talk to your boss. If you have been with a company for a long time and working above what they are paying then take action. See if you came come to an agreement. Most places don't want to go through the hassle of training your replacement. But make sure you are reasonable in your demands. Do some research. Find out what other companies are paying people with your exact job. If it's easier to switch companies then go for it. But don't get up and leave if you don't have to.

Anonymous's picture

The real site for free credit reports is annualcreditreport.com. Freecreditreport.com signs you up for a credit monitoring service with monthly fees.

Anonymous's picture

I love the creepy mushroom thing. Bridget's review is excellent.

the_wanlorn's picture

What is Montgomery? Anyways, you should check your credit reports once every year. Other than that, I know people who have gotten over their debts and it did take a long time, but they did it. I'm very encouraged by numerous articles on this site. What was that, Bridget? I should check it out? I could check it out? Oh, I have to check it out. =)

euroni's picture

Great episode. Those tips were right on. If possible I would like to get the URL of that blog that she was reading off of. Other then that I can't find any possible faults with this.

Magnin's picture

Great episode and very useful information. I think that when mentioning getting a second job, some advice should be given on how it can interfere with your home life. Perhaps better budgeting would work better. Just a thought but otherwise it was a nice video. Good tips.

adamnsarahsmall's picture

This is a very interesting and helpful video!

cactusbin's picture

Lots of helpful info. It's a great starting point to figure out what you need to do for a better financial future.

27with1's picture

Everything here was really good and really useful; however, I was turned off by the obvious plug for "FreeCreditReport.com." Please note that this looked tacky AND that website makes you sign up for stuff to get the free report, when in most states you are legally given one free report a year anyway.

heathcole's picture

Great tip. Refinancing our student loans was a real life saver for me.

ninedosus's picture

Very useful tips on getting out of debt. This makes me want to get the original article to read more. She does a good job of motivating us. I like these earlier episodes of The Jam because Bridget seems more genuine, not working hard to get a laugh.

mommytogs's picture

I disagree with #2, although the consolidation you speak of may not be what I am thinking it is. A couple years ago, they increased the minimums on all my cards. Minimums I was not able to pay, and the interest rates were through the roof. I had stopped using credit, so I wasn't piling on debt, but it was making it hard for me to eat and to sleep at night. I went with a credit counseling service for consolidation. It's not a loan. They negotiated lower interest rates for me and forgave some old past due fees. I now have three out of five cards fully paid off.. and so is my car. I did have to pay a hefty monthly sum, but I was able to sleep at night.. and still feed myself to boot.

soularchitect's picture

Very informative. Especially for the people out there who need it like me. I have debt but no credit card debt. I have just recently ordered my free credit report from the three credit reporting bureaus to start getting a handle on my credit. There is hope for me yet. I also have a new higher paying job to start paying some of that stuff off. I hope to be free from my debt soon. Maybe get a credit card or two.

phatpink's picture

Dave Ramsey's book looks like it has some good advice in it. I am also considering getting a credit report. I am not really in dept, aside from small credit card balances and a car payment, I should be okay. And I agree the debt consolidation places, have to be a scam.

missfunkadilly's picture

Great advice as always. loved it

Gabester's picture

I have to .. have to.. have to get your email to write to you personally and tell you what a wonderful job you are doing Bridget !

ASHAAN's picture