Consolidating all your

Bad debts include things like a car loan or borrowing money to pay for an overseas holiday.

It isn’t always possible to avoid bad debt, but it’s worth trying to minimise it.

That's if your credit card has a large enough credit limit.

A low credit limit doesn't have to stop you from doing a balance transfer.

Options to consolidate your credit card and other debts include a balance transfer credit card, an unsecured personal loan, a home equity loan or line of credit and a 401(k) loan.

The option that best suits you depends on your overall debt load, credit score and history, available cash and other aspects of your financial situation, as well as your self-discipline.

consolidating all your-12consolidating all your-81consolidating all your-9consolidating all your-26

Bad debt happens when you borrow to invest but the value of the investment declines over time, or if you borrow to fund your lifestyle.

And if at all possible, avoid credit card debt that can easily spiral out of control with such high interest rates.

Whether it’s a mortgage on the family home, a loan for the new car or school fees, the trick to managing your debt is to make sure you use it sensibly.

When you have balances on several different credit cards, paying them off can be a long, challenging process.

It's hard to make progress paying off your debt when you have to split your payments between say, seven different accounts.