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Deep Dive Into Debt Consolidation Dos And Don’ts

Debt consolidation

What the heck is debt consolidation?

Is it a good idea?

When should you do this?

When should you avoid debt consolidation at all costs?

What pitfalls to be aware of if debt consolidation is right for you?

Find out all you need to know in the video below

Prefer to read? Keep scrolling I’ve got you covered

YOUR ACTION STEP FOR TODAY – Make the decision if debt consolidation is right for you. Make the decision when you’re not in an emotional state – then stick with it! Grab the Budget Makeover Guide to find the extra hiding in your existing personal finances starting today, no additional income required.


Want to see what it would be like to master your money? Or what tools for success I recommend? Head over to the Resources Tab!

Read It! Deep Dive Into Debt Consolidation Dos And Don’ts

0:02
Is debt consolidation a good idea? Honestly, it’s really going to depend, there are specific incidences where I recommended that it would be a good idea. But overall, No, don’t do it. Don’t do a debt consolidation, and here’s why.

0:29
The problem is, the majority of the time what we see if you do a debt consolidation program. What happens is they combine all of your debt into one payment for you, which, in theory, sounds great. What habits, you have and the actions that you created and did everything that happened, things that you grew up learning. Those are the steps that took you to get into debt in the first place, right?

1:02
So, none of that changed. We have to be able to create a better future for ourselves, we have to be continually improving. If we took these actions and we got into that, that debt consolidation normally ends up being like a band-aid type fix.

That it’ll work for the short term, but long term we end up right back in the same situation, or worse, because we’ve consolidated one time, so a lot of times we have more credit available and we can get in a worse situation if we don’t change the habits that we need to.

1:36
Now specific circumstances where it might be a good idea would be if you were going through a major crisis. Personally, I and my family we’ve been through multiple medical crises now to in the last four or five years my husband and I’ve been getting almost five years so two in the last five years. And we’ve never done a debt consolidation program.

We have done different things to work with different creditors. While we’re going through that time but we never did debt consolidation, but that would be one time where it might be beneficial. If you have no other option and you are working to just get through that time when you are in the middle of a crisis, you can kind of feel like there’s no way out, nobody gets this, there’s no way out, nobody understands.

Well, first off I want to tell you that I get, we might not have gone through the same exact circumstances but I get being in that boat, and I want you to know there’s hope for top there’s hope. But if you feel like you have no way out but to do the debt consolidation program, then do it, but unless you’re in the middle of one of those major crises like that where you were just trying to survive trying to keep food on the table. Don’t do it.

2:48
There are so many different paths that you can do that would be more beneficial for you that would be better for yourself and your family. Long term that we can create better habits. Would not do the debt consolidation program. So, that’s really it for today we’re keeping it simple.

So the recommendation here is not to do a debt consolidation program unless you’re under very specific dire circumstances, because the short term benefits don’t outweigh the long term what you’re going to go through in the long term.

3:35
Hey there hope that you found this training helpful and what’s next for you. We need to make sure that you grab the Budget Makeover Guide so what the Budget Makeover Guide is going to do for you is it’s a PDF guide that’s going to help you walk through how to uncover the money that you already have in your existing personal finances that you don’t know it’s just waiting to be found. Crazy, right?

So, you’re already working hard for your money, right, like, let’s make the most of it, make sure that your hard earned money, your time, your effort, your sweat equity that you worked hard for is going to the places that you want it to go. If you want to be spending it great but let’s make sure that it’s not missing.

So, if you’re ready to find the extra money that is hiding in your personal finances no additional income required just waiting to be found, grabbed the Budget Makeover Guide what you need to do is go to https://aimeecerka.com/bmg, and you can grab the Budget Makeover Guide. we’ll see you next time. Bye for now.

YOUR ACTION STEP FOR TODAY – Make the decision if debt consolidation is right for you. Make the decision when you’re not in an emotional state – then stick with it! Grab the Budget Makeover Guide to find the extra hiding in your existing personal finances starting today, no additional income required.

Want to see what it would be like to master your money? Or what tools for success I recommend? Head over to the Resources Tab!

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Aimee Cerka
Aimee Cerka

The Money Confidence Coach - I help Mom's like you, master your money by creating confidence in your ability to solve the money problem so you can stop living paycheck to paycheck and instead create options, security and build wealth. Click Here to Learn More

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