Best consolidating credit card debt

best consolidating credit card debt-55

When used correctly*, debt consolidation loans and balance transfers can be excellent ways to get out of debt.

Consider consolidating your debts with a consolidation loan or transferring your credit card balances to a low rate credit card.

Once you have established an emergency fund and are saving for irregular expenses, you may want to consider suspending extra payments to Canada Savings Bonds or other savings accounts until you have paid off what you owe.

This is especially beneficial for those who aren’t saving for something specific like vehicle repairs.

You may be surprised to learn that making your cup of coffee in the morning instead of buying a $3 specialty drink will save you over $1,000 a year!