debt consolidation? think again
Debt Consolidation Isn’t the Silver Bullet You Think It Is
Are you struggling to keep up with your credit card payments, watching late fees pile up month after month? Have you even considered taking on more debt just to cover existing bills?
If you’re at your wits’ end and searching for a way out, chances are you’ve come across debt consolidation. It’s often marketed as the silver bullet — a simple solution that promises to make your debt problems disappear.
But here’s the hard truth: it doesn’t.
What Debt Consolidation Really Is
At its core, a debt consolidation plan combines multiple debts into a single monthly payment, usually with a lower headline interest rate. On the surface, it sounds like relief — fewer payments, less mental load, and a sense of control.
The catch?
High upfront or ongoing fees
Longer repayment periods that keep you in debt for years
Penalty interest rates if you miss a payment
And worst of all, the illusion of progress
You may feel like you’re moving forward, but in reality, you’re often just reshuffling debt — and chaining yourself to it for longer.
Debt consolidation treats the symptom, not the cause.
So, What Actually Works?
There’s no magic pill. No quick fix. And no financial hack that bypasses the real work.
The truth is this: personal finance is 80% behaviour and 20% knowledge.
The habits and patterns that led to debt in the first place must be unlearned. Without that change, any strategy — including consolidation — eventually collapses.
That’s where a proven, behaviour-focused approach comes in: the debt snowball method.
How the Debt Snowball Method Works
List all your debts from smallest to largest, regardless of interest rate.
Make minimum payments on all debts except the smallest one.
Attack the smallest debt with intensity.
Once it’s cleared, roll that payment into the next smallest debt.
Repeat until you are completely debt-free.
Something powerful happens when you eliminate that first debt. You gain momentum. Hope replaces helplessness. Progress becomes visible.
And that momentum? It snowballs.
Why Small Wins Matter
Every lasting behavioural change starts with small wins. Those wins build confidence. Confidence builds consistency. And consistency compounds into unstoppable momentum.
Debt freedom isn’t about willpower alone — it’s about having a clear plan and the right support.
Ready to Take the First Step?
If you’re unsure where to begin, start by speaking with a financial coach. Together, you can develop a realistic, personalised plan to tackle your debt — and move toward true financial freedom.
Because getting out of debt isn’t about rearranging numbers.
It’s about changing your story.
