CREATE YOUR MONEY
STRATEGY
Point of View
Choices
You see, at some point in life we
I decided that consolidation was
all may find ourselves in a “money
the best route for me. While I chose
trap.” What is a money trap
the consolidation route, this may
you ask? Well, my definition of a
not be the best route for others
money trap is when you have so
based on what they’re trying to
much debt that you feel
achieve in life. My friend decided
trapped and can’t find your way
that a personal loan was the best
out of it. As I previously stated, I
route for her so she could have one
found myself in a money trap
payment.
of 20K about 8 years back now and made my way out of it.
Approach The approach looks different and will always be situational-based. Let’s look at a few pros and cons of consolidation and personal loans for credit card consolidation.
P 84
