Our ever demanding lifestyle prompts us to continuously accumulate things. From the latest gadgets to a brand new car, we are constantly bombarded with images from manufacturers and advertisers to get this, buy that, sometimes things we do not even need we end up buying because of the urge to spend. Sure we all have to take mortgages for our house and car but do we really need that brand new plasma tv for the living room or book that expensive vacation to Bali? Alas, sooner or later we find ourselves in serious debt trouble. Our credit card bills are slowing piling up and we are mortgaged up to our ears! We find ourselves paying as much as 70% of our salary on credit card bills alone. How can we live on the 30% alone? So we find ourselves using our credit card more simply because we do not have the cash. So that means more bills! It is a vicious cycle but sadly a fact most of young professionals' life. It is even more difficult if you have a family with young kids to support. Of course we want the best for our kids, so we buy them all latest fancy stuff and send them to the best schools even if it means taking on another new loan. It is especially challenging if it is a one income source family. The quality of life may seem to improve at first because of all conveniences but sooner or later it will take a serious nose dive because of the serious implications of being in debt.
We were taught finance in school but this is not enough. If we want seriously want to improve our finances, then we can avail of free debt consolidation help. Free debt consolidation help are available online, and you could choose from a variety of debt consolidators companies. These companies give you free financial advice to manage your debts and get you debt free in a given period of time. This advice basically involves consolidating your various loans and multiple outstanding credit card bills into one easy and affordable loan. This way your concentration is on this one single loan. You will no longer be overwhelmed by various credit bills and notices. This could certainly make you breathe a lot easier maybe get some serious sleep at night. One loan means only one due to date to remember. So you will no longer get your dues dates mixed up which sometimes is the culprit that you could not pay your bills on time which means more penalties and charges. We certainly do not want that to happen.
In debt consolidation, your advisors will help you work out to consolidate all your outstanding loans from different creditors into one single debt. This involves working out to reduce your interest rates with your existing creditors and maybe even ask them to condone some pensions and then taking on another single but significant loan with lower interest rates of course to pay off all our debts.