Consolidating debt requires discipline. Some spenders cease spending only when their credit cards are at their limit. Transferring debt to a home equity loan clears credit card balance and reduces it to zero. The debt still exists; bill just comes from a different company. Once bill is back to zero, compulsive spenders may not be able to resist urge to spend more. This will leave them with both a home equity debt and additional credit card debt, making a bad situation even worse.

Debt consolidation through home equity loans is a great way to reduce debt. Debtors just need to be aware that they are risking their home when they do so and that additional spending discipline is required. Many debtors may benefit from simply canceling their credit card accounts once debt is transferred to home equity loan. Reducing debt is always a good idea. Debtors just need to make sure that they don’t run up more debt or lose their home in trying to do so.

The most difficult thing for a student is to choose from large number of student credit card offers. And best way for a student to choose a credit card for himself is to talk to other students and get advice from ones that already have and use a credit card and compare credit card offers online. Before choosing a credit card, student must be aware of card’s terms of use. Most student that already have a credit card recommend for others a card with no annual fee and option to limit amount to be spent. And apart from these safety measures, wise students that think of their financial future often take a personal finance course in order to learn all kinds of financial management skills that will help them throughout their entire life.

Students must be very careful when using their student credit cards; they always have to be cautious about amount charged on credit card and, at end of month, to review amount of interest they have to pay monthly. It is also recommendable that credit card balance to be paid as soon as received. If for some reason balances cannot be paid in full, student must pay at least minimum payment required. If problems with paying credit card balances appear, student must ask help from a financial counselor that will always have a solution for him as student loan repayments are much more flexible than consumer loan repayments. And another thing students must be careful about is identity theft; credit card or social security numbers should not be given to anybody over phone. These are important information that cannot get into hands of wrong people because will very much damage credit history. So, we can consider that it is best for students to have a credit card starting with their freshman college years because, if used wisely, credit card history built in this period will very much help them throughout their entire life.