1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will identify you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair Isaac).

2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% - 30%!

3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have at least 2 credit cards and 14% of them have 10 or more credit cards.

Solving problems all the way with San Diego debt consolidation

What Debt Does

Too much debt creates anxiety, stress and a host of related physical ailments. It creates discord among family members, reduced productivity on the job, and, if only minimum payments can be made, a lifetime of debt at high interest rates. Worse, if income is not enough to handle necessities and the minimum payments both, creditors are calling and credit scores are sinking. You need to get about the business of solving money problems with local San Diego debt consolidation.

What is Debt Consolidation?

Debt consolidation involves getting your bills wrapped up into one package and making one lower monthly payment to get them eliminated. Usually, this involves negotiations with creditors to gain some concessions from them, like lowered interest rates, elimination of late and over the limit fees, and often a reduction in the total debt amount. If you think this all sounds like a daunting task, you care correct. For this reason, most debtors choose to find a debt consolidation firm which will provide this service plus a host of other financial management services that will not only solve the current problem but assist in getting on the road to a debt-free lifestyle.

In San Diego, there are nonprofit debt counseling and consolidation firms that offer a total range of debt management and financial planning services. A couple that come to mind are as follows:

Springboard Non-Profit Consumer Credit Management: Each debtor will get a personal counselor who will assist in evaluation of the financial situation, develop a budget and strategies for realistic and responsible spending, as well as educational programs for personal financial management. These services are all free. Debt management programs, in which the organization receives the single payment to be distributed to all creditors, require a fee, usually about 8% of the payment, up to a maximum of $35.

Consumer Credit Counseling of San Diego and Imperial Counties: Offers the same services as Springboard, and fees are essentially the same.

Cutting Costs in San Diego

The climate of San Diego is perfect for outdoor activity. Fortunately, city planners have been careful to preserve lots of space for parks and great free beaches, so cheap entertainment is readily available. Use it. The farther you get from the shore, the cheaper it gets to live. Consider living farther inland and save some rent or mortgage money.

Fresh fruits and vegetables are really cheap compared to other parts of the country, so cut out the processed foods and go natural. You'll be healthier too.

A Tip for Tourists

Sand Diego on a budget is really fun. When you consider accommodations, consider the Cat Hostel. You can get a private room for $46 a night, and have communal use of a kitchen. If that is not your style, consider the Good Nite Inn Sea World or the California Suites Hotel, both of which offer rooms for less than $100 a night.

Tourist attractions are great and reasonable. Harbour boat tours are cheap; Balboa Park is massive with trails and 15 museums to visit; the Science Center and the San Diego are relatively inexpensive, and there is a large endangered species section; and don't forget the beaches!