A debt consolidation loan can be an excellent tool to assist in reduction of credit card debt. Consolidation loans carry interests rates far below those of credit cards. In long run, a great deal of money can be conserved through use of a personal loan.

While in many segments of society, word "self restraint" is passé, out of style like last year's fashions. But, in reality, very best way of reducing credit card debt is through self restraint.

Of course, it is easy to bandy around words self restraint and much, much harder to practice personal control.

Although it might seem comical on surface, cutting up credit cards is a perfect first step to reducing credit card debt. No cards, no charging, less debt.

Many people leave payment of their credit card accounts at bottom of monthly bill pile. Other primary accounts -- rent, electricity, phone, and like -- understandably take a higher priority over credit card bills. But, oftentimes a person will spend money on incidental purchases before taking on credit card balances. In end, credit card account may not be paid on at all or, if so, after deadline.

One way to ensure that credit card payments are made and one way to ensure that credit card debt is kept under some degree of control is via an automatic payment system on credit card accounts. A person's bank can arrange for credit card account to be paid automatically each and every month.

By ensuring that at least a base payment is made on credit card accounts each and every month, accelerated interest rates and late fee penalties will be avoided.

6. Seller-carried second mortgages. Some banks will allow you to have as little as 5% into a home purchase, but will then only loan you 80%. The seller can take payments on a second mortgage from you for other 15%.

7. State housing programs. Almost all states have some sort of financing help in form of a loan-guarantee program or outright loans for low-income buyers.

8. Family loans. It may not be out of charity that a brother or a friend lends you money to buy a home. A 7% return might look awfully good if their money is sitting in bank at 2%.

9. Manufacturer loans. Some manufactured-home companies are arranging financing with 5% or less down for their buyers. They must feel their money is secure, since a good modular on a piece of property is nothing like a mobile home on a rental lot.

10. Credit cards. This is a risky one, but if you have a low-interest credit card, you can use it to come up with downpayment, especially if you can pay it off soon with a coming tax refund, for example. Banks generally won't allow this, but you can combine this with seller financing.

Are there more ways to approach real estate financing? You bet. This was just to get you thinking.