When you do not manage your own spending, Expenses Always Rises to the level of income. No matter how much we earn, we tend to spend more. Say you have a monthly income of $5000, we will find a way to spend $5000.

When we earn $10,000 we felt should be at a higher standard of living by rewarding ourselves with a more luxury car, buy a bigger house, a grandier lifestyle and soon we will be loaded with larger loans and monthly expenses shot up to $10,000.

This meant we ended the same level as when we were earning $5000. No savings, always on debt be it credit card debt or mortgages.

You know what it the biggest lie on how the way the Rich live ? Do they live lavish lifestyles, fly first class, latest luxury sports car and spend like there is no tomorrow. WRONG !

The number one trait that all the rich people has is they are very Frugal and they live well below their means.

This also goes for college students that have to service their student loans and at the same time maintaining their lifestyles. The debt advice is take action to eliminate these debt problems now.

Another way is to look for proven Debt Consolidation Programs.

Debt Consolidation comes into play when Credit cards/Loans that carry a much higher interest rate than even an unsecured loan from a bank. Debtors with assets such as a house or car may get a lower rate through a secured loan or refinancing using their property as collateral.

Credit Card Consolidation has one of the high impact to a debtor as this is one of the highest interest rate loan in the market. No wonder Banks are so aggressive in promoting Credit Cards!

This will facilitate the total interest and cash paid towards the debt to be lower and will allow the debt to be paid off sooner, incurring less interest.