For those who don’t know, consolidation means taking a new loan, with the purpose to repay the ones you already have, thus allowing you to get better loan conditions, such as lower monthly installment, extension of the credit time frame, lower interest.

However, if you are not careful, you may end up in big debt, with no chances to ever see yourself out of it. Temptations are out there, and with consolidation you’d be tempted to spend more, just because you have the cash now.

This is a wrong approach, you should never spend more than you earn. If we think that no job ca be taken for granted, even spending everything you earn seems a bit dangerous. The ideal case would be that you manage to save something every month, at least 10% of your monthly earnings. I know this is a hard thing to do in many cases, as the income is not enough to pay the bills, but then maybe it’s time for you to seek for a better job, or for a better solution of making money. You can always consider online money making solutions as a source of additional income (if not a full time one).

And who knows, if you suceed to master internet marketing, you may end up happy and out of debt if not rich. How would you like it?