If you are looking to free up some extra cash, consolidating some debts may be a worthwhile option. Debt Consolidation Loans are offered by most lenders and can help simplify your finances.
There are many benefits to debt consolidation, including the fact that managing one loan is a lot easier than managing multiple loans with multiple lenders. The biggest benefit however, is the extra cash you’re likely to see straight away.
Make one or more “debt goals” for the year ahead
Many finance guru’s support the theory that you should always try and repay your highest interest rate debts first. Others suggest paying off your smallest debts first so you can experience a sense of satisfaction when it’s closed.
Overall the decision is entirely yours, but you should set yourself at least one financial goal for the year.
Even if it’s simply to complete your debt snapshot and implement a proper budget that you stick to – you’ll be one step closer to a brighter financial future.
To see if you are eligible for debt consolidation with Fair Go, check out our
It can be expensive to borrow small amounts of money and borrowing may not solve your money problems.
Check your options before you borrow:
For more information about other options for managing bills and debts, ring 1800 007 007 from anywhere in Australia to talk to a free and independent financial counsellor.