10 Personal Debt Blogs That Can Help Eliminate Your Debt Burden

Almost everyone has “some” personal debt. It’s become the norm. An accepted — even encouraged — part of your personal balance sheet. It’s become the mechanism through which you buy your house or your car or your new TV. It’s the measure by which you as a consumer contribute to the economy.

And for many Americans, it’s gotten seriously out of hand…

As this chart shows, U.S. household debt is currently over $11 trillion. Sure that’s down a little from 2008. But that’s still a massive amount of personal debt. And it’s not decreasing fast enough…

Personal Debt By Household, 2003-2013

But the real problem is how Americans now view their personal debt… Most people tend to place it into two categories: “good debt” and “bad debt” — where “good debt” is likened to a sort of “necessary evil” (i.e. mortgage debt or student loan debt), and “bad debt” is an element of their own frivolous spending (i.e. credit card debt).

That’s nonsense.

Debt is neither good nor bad. It’s merely a means of doing business. But if you don’t know how to manage your personal debt, it can certainly feel “evil” — regardless of whether or not you deem it “necessary.”

But it doesn’t have to be this way…

Below you’ll find a list of ten blogs that provide you with a unique, insightful and sometimes humorous look at how to better manage your personal debt.

These blogs are written by real people with debt of their own. It can often be helpful to hear their stories, and in some cases you can follow along with what they did to improve your own personal debt situation.

So if you’re starting to feel the “cold hand of debt” creep up on you, take a moment to review this list and see if any of them help…

1.Man vs. Debt: The subhead for this blog is “Sell your crap. Pay off your debt. Do what you love.” And the creator of the blog, Adam Baker, practices what he preaches.

On his blog, he details his own struggle to get out from under his personal debt obligations, including the goals he and his wife set for themselves, and how they accomplished them. His story is really interesting. Watch his TED Talk, right here:

2. Blogging Away Debt: Like many blogs on this list, Blogging Away Debt is an inside look at one woman’s journey to become debt free. The most helpful thing on this blog is the list of Categories she has on the right hand side — which link to several helpful and interesting posts on a variety of different debt-related topics.

3. Punch Debt in the Face: This blog is a great, humorous look at one man’s struggle with his personal debt. He’s fairly young, also, which can be a useful for those of you who have lingering student loan obligations.

4. Modest Money: Modest Money is both a debt blog and an investment blog by a self-proclaimed “average guy facing an average financial situation.” It provides useful posts on investing, saving and how to better manage your money.

5. Dear Debt: Similar to Blogging Away Debt, Dear Debt follows the path of one woman’s journey to eliminate her massive $81k in student loan debt. You can read how she’s going about doing it and gather your own personal debt solutions based on her experience.

6. Debt Discipline: Back in 2010, Brian and his family “hit rock bottom with over $109,000 worth of debt.” Now, four years later, they’re completely debt free. He’s not a financial expert or personal debt counselor. But if someone can get rid of that much debt in just 50 months, we think his blog is worth a quick perusal.

7. The YNAB Blog: YNAB stands for You Need A Budget, and this blog offers unique and actionable tips on how to better manage your money. The blog also includes personal debt posts that offer insight on how to get out from under debt more quickly and efficiently.

8. Debt Roundup: Debt Roundup offers you practical advice on how to save money on purchases and decrease your debt burden. Also, like a couple of other blogs on this list, it includes a list of pros and cons for various credit cards (if you absolutely must have one).

9. Digging Out of Debt: This is another great personal debt blog that allows you to follow along as two sisters work their way out of mountains of debt. You can follow along with their own experiences and watch their debt decrease over time.

10. Wisebread: Probably the most well-known website on this list, Wisebread offers you actionable ways to save money and useful tips on how to spend your money more wisely.

Each of these blogs have their own strengths and weaknesses. But we think each one is worth a few minutes of your time. After all… You are not the only person with debt. And in many cases, your debt obligations may be less than some of the people who’ve already found a way out of it. Hopefully some of the blogs on this list will be able help you.


Greg Kadajski
for The Daily Reckoning

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[Note: Any advice you receive on the blogs listed above is not in any way affiliated with The Daily Reckoning or Agora Financial. And while these blogs are an interesting look at personal finance, we don’t officially endorse any of their advice or solutions.]

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