financial independence

Avoiding debt dangers

I have been a bit negative on the use of credit and loans on this site, with good reason debt is dangerous.
But their are times when credit can be useful heres the stubsy guide to achieving financial independence and using credit without getting into debt.
Find a credit card with a 0% rate, if you've got outstanding debt on a credit card your probably paying about 18% interest find a bank thats offering a 0% deal on balance transfers and swap it over.
You could try consolidating all your debt, a broker will be able to look at all the offers on the market and then advise you on the one that fits you best.
Heres one if your in the U.K

Step 3. Find ways to cut back on expenditure.

You might be surprised at what you can save.

Make a list of all of your current expenses. This includes all your shopping, hobbies, magazines, newspapers, treats and everything else.

Then take a look at the list and remove all non-essentials. Be honest with yourself! Its hard to go without little treats, but in the long run you'll be doing yourself a favour.

Step 4. Contact your creditors.

If you just can’t keep up with your payments, don’t be afraid to contact your creditors. They will try to help you. It costs them much more if you default than it does to work with you, so they have just as strong
an incentive to work something out as you do.

If you’re having trouble meeting your payments, tell them. Be realistic about what you can afford. You may be able to negotiate a new payment plan that you and