Welcome to My Personal Finance Journey! If you are new here, please read the “About” or “First-Time Visitor” pages to find out more about us. If you would like to receive free updates on articles like this by email, then sign up here or you can subscribe to the RSS feed. Also, check us out on Twitter or Facebook. Thanks for visiting! Keep on learning!
Click here to enter my free $50.53 giveaway for a chance to win 5% of My Personal Finance Journey blog income and give another 5% to a charity of your choosing! Deadline to enter is April 30th, 2013.
Debt consolidation is really not getting out of debt, just transforming the debt from one form to another.
What are the downsides or negatives of a consolidation loan?
So what about debt management?
So which account should you concentrate on the pay off first?
How about you all? What strategies have you used to pay off debt? Did you try debt consolidation or debt management programs, or did you simply bite the bullet and buckle down to pay off the debt?
Share your experiences by commenting below!
Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.
- In my experience, I have found that people looking to more aggressively pay off their debt often view debt management or debt consolidation programs as some “magic” cure or solution that will make it completely easier to get out of debt.
- The truth is that if you can fix your spending behavior and can have some success getting your interest rates reduced, you can accomplish many of the things that these programs offer without the cost.
- However, these solutions are always good to think about as a fall-back.
***Photo courtesy of http://upload.wikimedia.org/wikipedia/commons/1/1e/Women_in_Economic_Decision-making_Christine_Lagarde_(8414041294).jpg