Some of my blogging pals who have had enough of frugal living are spending again. Oh, dear, this is dangerous, right?

They must have felt strangled or deprived by the frugal living that they quit whatever grocery, clothing, and concerta coupon clipping that has been saving them lots of money.

Spending again means that there will be new debt added into their existing debt amount.

It’s my hope that they get to stop their impulse spending before it’s too late. They will surely feel guilty after the shopping season is over.

You sign up for a card that promises 0% on balance transferred to the card. But…

There may be a 2% to 4% charge for the transfer. At 4%, that’s $200 on a $5,000 balance. That 0% may last for only none months, then jump to more than you’re paying now.

The 0% may apply only to initial balance transfers – the ones you switch when you first apply for the card.

Say you have 3 cards but apply to transfer the balances from only 2 of them, then later decide to include the third. That third transfer may be treated as a cash advance – you’ll be charged super high fees and interest.

If you’re late on a payment, your 0% will vanish so fast that your head will spin.

If you use the card for new charges, the interest will build up faster than you think it will. Monthly payments are usually applied to your zero-interest balance until the introductory offer period ends. Meanwhile, the interest on new purchases keeps added on.

$$ Saver. To see if it pays to switch, unearth all the fees in the fine print and compare them with your current card’s fees.

If you still like the new deal, transferring balances can take as long as 4 weeks,so keep paying off your old card until you get a statement showing a zero balance. Then, cancel that card so you won’t be tempted to use it and run up even more debt.

On the new card, concentrate on paying off the transferred balances as fast as you can.

Check out the findings of the recent national poll:

— Americans have conflicting attitudes about debt. While 91 percent believe debt can be controlled by disciplined saving and spending, 72 percent also believe that debt is a part of modern life and difficult to avoid.

— 66 percent of Americans say debt is often the result of unfortunate circumstances beyond a person’s control, while 60 percent say it is usually the result of bad decisions.

— Credit cards are the most frequently cited form of debt (45%).

— Higher income levels tend to carry debt month-to-month. For example,75 percent of those with annual incomes of at least $75,000 regularly carry debt month-to month as opposed to only 36 percent of those with annual incomes under $20,000.

— Men worry less than women about the debt they carry (40 percent vs. 30 percent).

We all make money mistakes. Some of us enjoy gambling while others might like a little too much retail therapy. Sometimes, these habits can get out of control – that’s when debt rears its ugly head.Here are some tips on digging yourself out of a debt hole:1. Admitting the Problem. A lot of people chalk up debt because they place great value on external possessions, like owning the latest cell phone model or the flashiest cars. Or perhaps they have an addition that needs addressing.

Once you have recognized what it is, it becomes easier to reverse your mindset from spending to saving.

2. Ask for Help. Whether you’re $500 or $5,000 in debt, you can go to the Credit Counseling and Debt Management Agency to learn how to better manage your money and equip yourself with the necessary skills to manage your finances.

Financial education will help put you in a better position to take responsibility for your financial well-being. The requisite knowledge and skills will help empower and help you take greater responsibility and control of your finances for the long-and short-term.

3. Live Below Your Means. If you find yourself in debt and want to dig yourself out of debt hole with help from your loved ones, you can – but it requires discipline and commitment.

Most people live within their means, but someone in debt should live below his means. If you can live on $1,500, for example, you can put aside that extra $100 from your pay rise.

Use annual increments and bonuses to pay off loans, or better yet, place some of them in your savings.

4. Automatic Deductions are your friend. If you don’t have your money automatically deducted from your pay cheque into your savings account.

In time, you will get used to doing without this amount. This will come in handy when you draw up a monthly repayment plan to clear your debt.

For instance, if you take home $3,000, put $300 aside in a separate account and lock it in there. To curb the temptation of making withdrawals, avoid having an ATM card for this account.

We all make money mistakes, Some of us enjoy gambling while others might like a little too much retail therapy. Sometimes, these habits can get out of control – that’s when debt rears its ugly head.

Here are some tips on Digging Yourself out of Debt Hole:

1. Admitting the Problem. A lot of people chalk up debt because they place great value on external possessions, like owning the latest cell phone model or the flashiest cars. Or perhaps they have an addition that needs addressing.

Once you have recognized what it is, it becomes easier to reverse your mindset from spending to saving.

2. Ask for Help. Whether you’re $500 or $5,000 in debt, you can go to the Credit Counseling and Debt Management Agency to learn how to better manage your money and equip yourself with the necessary skills to manage your finances.

Financial education will help put you in a better position to take responsibility for your financial well-being. The requisite knowledge and skills will help empower and help you take greater responsibility and control of your finances for the long-and short-term.

3. Live Below Your Means. If you find yourself in debt and want to dig yourself out of debt hole with help from your loved ones, you can – but it requires discipline and commitment.

Most people live within their means, but someone in debt should live below his means. If you can live on $1,500, for example, you can put aside that extra $100 from your pay rise.

Use annual increments and bonuses to pay off loans, or better yet, place some of them in your savings.

4. Automatic Deductions are your friend. If you don’t have your money automatically deducted from your pay cheque into your savings account.

In time, you will get used to doing without this amount. This will come in handy when you draw up a monthly repayment plan to clear your debt.

For instance, if you take home $3,000, put $300 aside in a separate account and lock it in there. To curb the temptation of making withdrawals, avoid having an ATM card for this account.