16. Consolidate Your Debt

$16,425. That’s the average balance in the United States for every household with a credit card – and with an average interest rate of 16.49%, that means Americans are throwing away, quite literally, MILLIONS of dollars each month on interest charges, whilst overpaying with a credit card for all those luxury items. Give your credit card company a call and ask for a lower interest rate – or even call a nonprofit credit counseling agency and consider enrolling in a debt management program. Your expenses can be consolidated and the counselors will work with lenders to lower your interest charges. Courtesy of one monthly payment to the non-profit, funds will be distributed to lenders – and the counselors will also set up a budget that’ll help you to get out of debt.