Consolidate debts because debt service costs a lot and, sometimes, is all there is to get.
Forget about refinancing.
The point here is that debt consolidation should be avoided at all costs. It is not a magic solution to a tough financial situation. It will not solve any problem if your goal is to increase the size of your nest egg. Instead, debt consolidation only moves you from a bad situation to a worse one. And when that occurs, it is the worse situation you're in that is most likely to cause problems.
The truth is that if you're in a financial jam, you have lots of options. You have to figure out which are best for you. If you're able to get rid of your credit cards, then do it. There are far better deals out there than your current $7,000-$9,000 monthly payment.
However, if it's not possible for you to pay off your credit cards, then you should focus on getting out of debt as fast as you can. If you can't get out of debt without taking on no credit check loans, then start planning on what other investments you're going to make that will pay off in the long run. Start setting up a pension plan and saving for your retirement. Investing is a good way to grow your wealth, but if you can't afford to start investing without getting into debt, then you should at least stop taking out credit cards, and start saving for your future. Once you've done this, you should feel free to go back and begin taking out the loans you need to get started again.
2. How do I make money with the money I earn?
This one is a bit of a grey area. Obviously, most entrepreneurs don't want to use money to make money and instead just want to invest that money in something. We all know that we can make money by investing in the stock market, but how do you make money by making an investment?
To figure that out, first, you need to decide what your personal goal is. This is where you'll find your personal strategy. In my case, I want to be a successful entrepreneur, so I have a personal strategy that includes: -Making money -Living in comfort while I create my business -Finding more and more ways to earn a profit -Having lots of fun -Hoarding stuff I don't use anymore I'll give you a short list of other strategies that you can use in your life, too, including being smart with your taxes.
Don't like this? Read more on creating your personal strategy. You don't have to like the other strategies that you hear about, either. I don't care what you choose. But if you choose this strategy, you need to do the following: -Set the proper conditions. Make sure that your goal is realistic. Are you going to buy a new car that will be a great investment for the next 10 years? Make sure you are willing to pay the money down and to make a down payment.
Are you going to give up your retirement to make a change? This might sound obvious, but if you don't have a plan of action, it is going to be tough to start this journey. -Understand your motivations. Remember the purpose of this challenge, and your intention to accomplish it. Think through the most efficient and effective way to do it.
-Plan your process. The important thing to remember here is that you are using your own personal motivation to