The personal finance section of The Wall Street Journal is stepping out of its standard group of themes and producing some interesting content on issues like frugal vacations these days. With the summer season around the corner, you may be wondering what to do for a fun weekend or even week away from the daily grind that doesn’t dent your wallet too much.

About twelve years ago I had the good fortune of living for year pretty much as an adopted child by a family I didn’t know beforehand. The experience changed my life – imagine a 15 year-old learning to live under new house rules, with different responsibilities, and enjoying some unexpected freedoms. Something we did as a family that I had not ever done before was extended camping. I’m not talking about one or two nights, but a seriously long trip in a van with tents to pitch. Those trips were some of the most memorable of my life.

Amy Hoak writes about the potential for family camping these days — which can be one of the least expensive ways to go on vacation. But before you take my stamp of approval at first glance, consider some of her points:

• Buying a tent and a couple of sleeping bags from a major retailer can come it as just a couple hundred dollars. DebtGoal thought: that’s a good option, but even better is to buy used supplies cheaper off of the Internet or borrow them from a friend or relative for free!
• Plan ahead as much as possible. Check out FreeCampgrounds.com. DebtGoal thought: use the Internet to research well the different sites and options, basing a decision on an optimization of cost and facilities like pools, electricity access, beaches, climate, etc. Even better: if you have your heart set on going far from home, perhaps on a plane, consider camping at your destination instead of spending on a hotel. The savings will be astronomical.
• Check out RV rental options instead of investing through the ownership track. DebtGoal thought: skip the RV altogether and save a bundle. Make it a fun game to brainstorm how little you can spend in total on a family camping trip!

Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs.  DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.

News headlines have documented fairly well the plight of foreclosure being experienced by those with modest incomes and lifestyles. But the mortgage crisis is far from limited to these Americans. Consider BusinessWeek’s coverage of foreclosure issues with the upper middle class:

• Families with credit scores in mint condition are facing an unprecendented financial squeeze from falling home prices, especially when one or two household incomes disappear through a loss of employment or simply a reduction in take-home pay.
• Potential liquidity from homes is practically frozen as homeowners who own property struggle to close a sale – even if the home has not dropped much in value.
• If a household’s financial strategy entailed the assumption of continuous, two-income flows, then even the loss of one income can push a homeowner out of their ability to cover their mortgage payment.

So what should someone in this situation do? Contacting lenders at the earliest possible moment to discuss a financial situation is helpful. Being honest with them, mentioning a desire to meet mortgage obligations, and setting up a budget – or revised budget in some cases – will go a long way towards a solution. Also, foreclosures and short sales are not necessarily a bad route for a family to take.  Even when a household is at the point at which it is economically rational to walk away from a home, the emotional attachment and investment in upgrading the property can deter one from a logical course of action. One of the worst cases I’ve seen is a family trying to hold on to a home by cashing out their retirement accounts, taking an early withdrawal penalty –  in order to continue to swing a mortgage payment. The problem with this approach is multifold, but one of the major issues is risk: if one is already struggling so intensely to swing a mortgage payment, even after taking such an unwarranted withdrawal from their retirement funds, there is still the real chance of not being able to meet the mortgage obligation a few months or even a year down the line. As difficult as the decision can be, someone struggling in this particular situation can benefit from radically reconsidering what’s ultimately important in their life – and focus on funding just those needs. Helpful strategies also include taking a deep breath, brainstorming on the entire range of options, including lifestyle changes, and setting up a plan to manage and pay down all existing debt and meet the basic monthly expenses.

Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs.  DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.

Here’s some of the most informative blog carnivals from the past week:

Carnival of Money Hacks

Festival of Frugality

The Money Maniac

Bankruptcy and Debt Carnival

Carnival of Financial Planning

Money Hacks Carnival

Carnival of Everything Money

Carnival of Wealth, Money, and Life

Personal Financial News Carnival

Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs.  DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.

The Washington Post just released an article that serves as a glimpse of what’s to come with credit cards: more fees. Here’s a short summary of the main points:

• Mail Monitor statistics are mentioned, citing a 67% drop in offers received in the mail compared to a year earlier. Likewise there was a measured change in annual fees with new offers, jumping from 18% to 27% compared to a year earlier.
• Card issuers say that the new regulations on lending will force them to raise interest rates and fees irrespective of a particular cardholder’s risk profile
• Even those with existing credit lines need to check their statements more closely to make sure they are aware of any rate and fee changes that are involuntarily added to their cards

Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs.  DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.

An excellent article on PoliticsDaily.com steps back for a moment and looks at the broader trend in the news media since the beginning of heightened awareness of the current economic crisis near the middle and end of last year. Basically, the media focused a lot on the economic crisis, but it has not dominated the headlines at least since April.

The idea that economic panic has given rebirth to a sense of resilience is reason for optimism. But the fundamental changes in spending behavior that many of those with large debt burdens have turned to are still valid and just as critical as a couple of months ago. It may take the economy a while to recover, and many experts predict a slow bounce back. Radically readjusting to a frugal lifestlyle and keeping recurring expenses from month to month under control are two of the most important strategies to keep in mind. Along the lines of frugal living, check out any of our articles on novel ideas for enjoying life whilst spending little or nothing. The suggestions in them go far beyond the typical advice for cutting costs, and range from dating and dining advice to vacations on an even thinner shoestring than usual.

Raj Patel writes for DebtGoal.com, a do-it-yourself system for getting out of debt and lowering your interest costs.  DebtGoal.com incorporates all of the techniques discussed in this post and can help users understand and get visibility to and manage their debt finances.