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Blogger Helps Readers Get Rich -- Slowly
POSTED: 2:29 pm PST November 17,
2008
UPDATED: 9:14 am PST November 18,
2008
PORTLAND, Ore. -- Do you want to dig your way out of debt or learn to spend less and save more?J.D. Roth, who lives in southeast Portland, can help.
Roth authors the blog Get Rich Slowly, which has collected praise from magazines including Money, Parents and Real Simple, as well as newspapers all across the country.Earlier this year, Roth quit his job and started running his Web site, getrichslowly.org, full-time."It's a little intimidating to be honest," Roth said. "I mean, if I think about it, I get stage fright -- 20,000 people and they're coming to read me?"Two and a half years ago, Roth was $35,000 in debt and he realized he needed to do something to turn the tide.He said two books helped changed his life: "Total Money Makeover" by Dave Ramsey and "Your Money or Your Life" by Joe Dominguez and Vicki Robin. Those books helped teach him that getting rid of debt, and ultimately getting rich, is a slow process."Instead of looking for magic bullets, I think people should look at the tried and true things, which are usually the kinds of things your parents or grandparents told you," Roth said.Roth's first piece of advice for people looking to get out of debt is to set financial goals."Until I set my financial goals, I was unable to achieve the things I wanted to do," Roth said. "I just basically frittered my money away because I had nothing, no other reason to save the money. I didn't know what I wanted to do with it -- it was just there to spend on fun and games."Roth eventually set a goal to get out of debt. Two years later, he had paid off $35,000."It's hard to understand how much of a burden debt is until you're actually able to get rid of it," Roth said. "And then when you're able to get rid of it, it's such a relief."After setting goals, Roth said setting up an emergency fund should be the top priority. He said small emergencies can end up adding more debt to the bottom line."Set aside $500 or $1,000, or whatever it is," Roth said. "Just in case something happens, I've got that extra money set aside and it doesn’t distract me from paying off my debts."On Tuesday night, FOX 12 will share Roth's next step for getting out of debt and saving money.For more money-saving tips, visit www.getrichslowly.org.
Portland Blogger Shows Readers How To Get Rich -- Slowly
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