I’ve been reading the advice of some of the debt “gurus”. Some of it is great, much of it similar to mine, all of it given with good intention. To be frank, I found some of it distinctly uninspiring.

There are different ways to get out of debt. I see the advice to live frugally (beans and rice, rice and beans) and get another job being repeated often. This is fine for people who can pay their debt off in a year or less, but what about the others? What about people who are likely to take 3 years or more to climb out of debt? What happens to the children of those parents who are in a lot of debt and how will this frugality affect them in later years? Continue reading »

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Capt. Nick Sloan was $68,021.35 in debt early in 2007, when he decided he needed to do something ‘radical’ to get out of debt…

He volunteered to go to Iraq.

Sloan, 26, a captain in the US Air Force, was stationed in Colorado Springs and could see a series of bad decisions in his financial life. So he decided to do something about it. In May he arrived for duty in Baghdad.

“I came to the realization that I was so far over my head, I had to do something drastic to increase my cash flow,” Captain Sloan said in a telephone call from the Green Zone, where he received extra pay and had minimal living expenses. “Iraq did that.”

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