We all know that the only way to make more money is to either increase our money coming in or decrease our money going out. So when you’re considering the various options of consolidating your debt, make sure you weigh up the odds and work out what the pro’s and con’s will be.

What can you do?


To become financially savvy you need to perform regular reviews of your costs – your expenses, your liabilities, your one-off outgoings, anything that sees you spending more money than you potentially should or could. This can be anything from units of power, internet providers, water rates, right through to credit card interest and debt – all these factors should be regularly reviewed so you can leverage off better deals and initiatives available to the market.

Once you’ve completed the review, write up a budget that you can adhere too because you’ll benefit enormously by having your finger on your financial pulse. Many people are surprised just how much money is being frittered away.  Better financial planning relies on reducing waste and debt.



Being able to consolidate your debt allows you to cut back on interest charged for all those ‘little debts’ you have scattered. Pulling all your debt into one manageable space allows you to buy a better interest rate, saving you money. In lots of cases, that could be thousands over the life of the loan.

Review the amount of interest you are being charged on your credit cards and you may be in for a nasty surprise. You may have started out with a 0% or low interest credit card but as that debt grows, so the does the period of time you have the debt and that will push you into the higher interest rate charge that no one feels good about.

Remember interest plus the period of time you have the debt equals the overall cost.

Money making opportunities could be a garage sale, taking on a second job or working a freelance job from home until your debt is paid off. Consolidating debt can be paid off a lot faster if you turn your free time into profits. We’ve all got skills that could bring in extra income that once debt is eliminated, can then be turned into straight savings.

Have a clear strategy

Like most things in life, for things to run smoothly you need a plan. You need a strategy which takes into account where your money is going and then a plan to either make more money or reduce your outgoings. Set a budget, cut back on expenses and look at future money making opportunities that will be a realistic formula for future wealth and success.


Talk to the right people about consolidating debt and you’ll get professional advice that will help you start paying off debt the easiest way possible.

If you’re thinking of a debt consolidation loan, give the team at Linsa Finance a call on 0800 34 62 63, they would be only too happy to help!

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