1. Tips for Debt Consolidation

• Do not use the line of credit on your home to clean up your debt. Rates are fairly low compared to credit card rates, and it feels like an easy way to go, but you end up paying off that debt for years and years, plus the debt ends up becoming bigger over time.
• Focus on paying off your credit cards with the highest interest rates. What you can do is consolidate your credit card debt into the one or two cards you have with the lowest interest rates. Then make sure you keep paying them down.
  • Read the contracts on your lower interest credit cards first so you can be sure you are selecting the right cards.

2. Tips for Debt Management

• It is important to make an accurate budget. Write down every single thing you spend money on. Keep track of every single penny. This will take at least a couple of months but it will ultimately give you a better understanding of where your money is going, and, also, where it is it should be going.
• Once you have a budget, begin to weed out spending on items you don't really need. Pay off the bills you've already created. It's important that you live within your means. Stick to your budget.