S T R A T E G Y

You see, at some point in life we all may find ourselves in a “money trap ” What is a money trap you ask? Well, my definition of a money trap is when you have so much debt that you feel trapped and can’t find your way out of it As I previously stated, I found myself in a money trap of 20K about 8 years back now and made my way out of it.

Point of View Choices Approach

I decided that consolidation was the best route for me. While I chose the consolidation route, this may not be the best route for others based on what they’re trying to achieve in life. My friend decided that a personal loan was the best route for her so she could have one payment.

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