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10 Tips for Managing Debt

There may be times when you add up all your debts or look at your credit card statement and have a bit of a panic. 

To help you manage your debt position, here are 10 Tips for Managing Debt;

1. Consolidate: Pool all your debts into one. The benefit here is that you may reduce your overall interest cost. This would certainly be the case if you use a line of credit facility and combine high interest credit cards. If the line of credit was attached to your mortgage, however, you’d be eating into the equity on your home, which may be an unwise strategy in some cases.

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