When it comes to our personal finances I am more of a saver and always looking for ways to maximize our savings. We use the generosity of our credit Cards to extend payments using their 0% interest rates and then will pay off smaller loans to then let our money work elsewhere. There are even debt management services that will help you if you get over extended and find yourself in financial turmoil. Now that savings accounts and money markets are starting to pay above 5% we can start setting aside some of your cash that would go towards these other debts and let our money build. Our current accounts are always in good standing and we have been able to maintain a great credit score and the lenders will work with us to get a lower rate on various purchases.

This was evident when we went to revise our loan for our house and one of the lenders started off at 6% but when we he was able to pull our credit he was able to come down to 5.75%. I did not realize also that your credit score affects how much you could pay for home insurance. We ended up saving an additional $85 per year since our credit score was great. Our agent said it is a good idea to check yearly to see if we qualify for any additional discounts. The best Debt Advice we can give is to plan your budget and stick to it. Do not over extend and lessen the amount of credit cards you carry to reduce the temptation of over spending.

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