Emily's List: Debt management edition

This week's economic news isn't getting any better. Sure, gas prices are going down, but so are stock prices and home values. Americans are struggling to keep up with inflation and keep on top of their finances. This week's blog round-up features educational posts that will help you with all things debt -- how to prevent it, how to get out of it, how it affects your credit score and even how to know when it's time to declare bankruptcy. It's never too late to learn about managing debt!

1. Money Under Thirty helps you figure out if and when it is time to file for bankruptcy. It's hard to admit defeat, but after you reach a certain point of debt, it will benefit you to go through this legal proceeding.

2. Jenna at Ask Mr. Credit Card has gone through a bankruptcy and discusses what the aftermath is like, and explains how it is like a rebirth.

3. If you're racking up credit card debt over everyday purchases such as books, stop wasting your money -- there's an alternative, Debit vs. Credit says! The solution is easy: Get a library card.

4. Did you know that if you're in over your head in debt, you can often work out a plan with your credit card company? Get Out of Debt helps a reader figure out how a special payment agreement with his credit card company will affect his credit report and score.

5. Mrs. Micah at Finance for a Freelance Life discusses how your minimum payments influence your overall debt repayment. You may not realize how much psychology factors into your debt decisions. 

6. Single Guy Money lists several financial warning signs you should look out for. If you find yourself in any of these scenarios, including rising debt, you are headed for a financial meltdown. http://www.singleguymoney.com/2008/11/warning-signs-of-financial-trouble.html

7. Trent at The Simple Dollar discusses what is good debt and what is bad debt, and how you can learn to make this important distinction.

8. Nothing will get you in debt faster than a shopping addiction. If you or someone you know is struggling with this and needs help, read (and listen to) this post by Kimberly Palmer on Alpha Consumer.

9. It's oh-so-easy to go into credit card debt during the holidays. I thought I planned out my gift-buying well last year, but I found myself with credit card debt from gifts well into early 2008! To prevent this common problem, Money Smart Life explains how to budget for the holidays.

10. J.D. at Get Rich Slowly discusses what kind of debt-to-income ratio you should maintain when it comes to being able to afford a mortgage.