You need to make sure that debt consolidation makes financial sense for you.
Debt consolidation can be a good way to take control of your finances.
One of the advantages of debt consolidation is that you’ll simplify the process of becoming debt free. You will have only one loan to pay instead of having multiple loans that you have to pay each month. And you aren’t going to have to decide which of your debts to focus on paying off first since there will just be this one loan to worry about.
If you make a smart debt consolidation choice, there’s actually an even bigger benefit: saving money on the interest you pay on your debt.
But whether or not your consolidation loan saves you money — or costs you money — is going to depend on th…
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