For many, debt is a cause of a lot of stress, sleepless nights, and friction in relationships. Has debt caused any unease or anxiety in your life?
If you allow your debt to manage you instead of you managing your debt, you will waste a lot of money and time. It doesn’t have to be that way.
In fact, when used appropriately, managed properly and paid quickly, debt can be a tool to help you instead of harm you.
All of your existing credit card debt is transferred to one credit card. Credit card companies offer 0% APR for a certain length of time. You will pay less in interest.
It is transferring debt to another credit card—you’re able to use a personal loan to pay-off all of your credit card debt, and then make payments on that loan over time.
When people take out a personal loan to pay off credit card debt it reduces the number of payments to one all inclusive payment. They usually get a lower, fixed interest rate.
The answer is a resounding YES! Save a ton of money by not paying more interest. Also debt can negatively impact your physical and emotional health.