Consolidating debt might secretly slash your expenses rent

Exploring Your Options

There are various debt consolidation options available, each with its own advantages and considerations. Personal loans are a popular choice due to their fixed interest rates and predictable monthly payments. Balance transfer credit cards offer promotional 0% interest rates for a set period, which can be advantageous if you can pay off the balance before the promotional period ends. Home equity loans may provide lower interest rates, but they require using your home as collateral, which carries its own risks.