With everything that is currently going on with the economy, we should all really take a look at our own finances and start considering that we too made need to consolidate debt. By that I mean, we need to look at our own personal debt and find ways to help ourselves pay less.  Each one of us needs to be part of the solution instead of the problem.

In my own household, we don’t carry much debt.  Anything that we do have is no interest or is our car payment.  Besides that, we pay off all of our credit cards each month.  I also make an extra payment on our mortgage, so we can get ahead of that.  One of things I was able to figure out was that for me, cash in my pocket was spent cash.  I can control my spending way better with a credit card.  I also can easily check where I did spend my money.  However, most people are at the other end of the spectrum.  They find it is way too easy to spend money using a credit card.  You also need to find out why you spend money.  Is there an emotional trigger?  For myself, I can’t walk into Best Buy without spending money.  I am not sure what my trigger is in that store.  To combat this, I do not go there unless I really need something.  I do my research online and just go their for the purchase.  However, the biggest thing you need to do is make sure you make any changes permanent.  Without doing that, you aren’t helping yourself or you family.  We don’t know how long this financial crisis is going to last, and you want to make sure that everyone one comes out of this intact.