Monday, September 7, 2009

Personal Finance Boot Camps Fight Debt with Hard-Nosed Approach

Posted By: Srividya Srinivasan

Article By: Lisa Rogak

They're probably never going to force you to scrub the latrine, hike for miles in the driving rain or call you a maggot, but personal finance boot camps promise to use some tough love to help you gain control over your finances and debt once and for all.
These boot camps come in the form of online or face-to-face classes, exercises and daily check-ins, but what they all have in common is they have a no-excuses, take-no-prisoners approach. Just like a regular military boot camp, your usual excuses will be laughed at and met with an on-the-spot challenge to cut you personal spending by 10 percent more -- right now. Classes are usually led by one or two hard-nosed "commanders" who challenge you to live within your means, stash the credit cards, cut spending and stick to a budget by confronting you with the cold, hard truth that the numbers can't hide.

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