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How to Save Thousands w Debt Consolidation Loans
Saving money and making more money allows us the freedom to actively pursue our passions. Here is a way to help get your passions funded:
Are you struggling with student loans or ongoing debts from high-interest credit cards? You can save thousands of dollars by finding the right debt consolidation loan for you.
Before switching to debt consolidation, there are several factors to consider including:
- How much debt do you have?
- Are there programs available with a lower rate than what you currently pay?
- Are you regularly paying late fees or high-interest rates?
- Would you like to make 1 monthly payment to satisfy all your outstanding loans?
If you decide to consolidate debts, you will benefit from knowing the overall total of your debts, you’ll make one monthly payment and keep one interest rate. Be sure to shop around for the best deal that will save you the most money in the long run.
As you consider this money-saving option, be sure to do your homework. Choose a loan with a lower interest rate than you currently have. Decide whether you would benefit most from a personal loan or a balance transfer to a credit card. Consider the fees involved in balance transfers or the possibility of falling behind on a loan.
If you’re thinking about consolidating your student loans, SoFi could be a great option. Just be aware that if you consolidate all of your loans, you may be ineligible for any type of government forgiveness options (temporary or long-term).
Debt consolidation is a complicated decision. If you’re able to save in the long-run with lower interest rates and avoiding late payments on accounts you forgot you had- then I recommend you try it! If you can save money to reduce or eliminate debt, you’ll be able to fund your passions.
Compare rates and learn more about debt consolidation at debtconsolidation.loans
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Monetizing your passions can be tough work. I would love to hear your money-saving and money-making ideas. Join the conversation by commenting on this article!