Sad as it may be - inflation is climbing, climbing fast and starting to outstrip those pay wage increases every year that were supposed to keep our heads above water.
Food prices are going up in leaps and bounds, fuel for heating and cars is reaching seriously high new heights and the threat of job loss and a world recession is looming larger and larger every single day.
But enough of the cheery good news and building your motivation up - here's the bad news.
Debt consolidation is a last resort - not a get out of jail free card.
Credit card debt consolidation is probably the worst consolidation loan to take out and the one that will, indirectly, cost you much more than you anticipated.
Time for some tough love here - sorry.
The most probable reason you are considering a credit card consolidation loan about now is because your cards are maxed out, you can't meet the monthly payments and it's all getting out of control.
What normally happens is a loan is sorted out, all debts are piled into this loan, your cards are clear and clean and you have one smaller monthly payment to repay - allowing you more breathing space and the chance to relax.
Fatal mistake - don't do it.
Here's what normally happens further down the line after your debts have been lumped into one.
You start spending on the credit cards again.
The balance goes up.
You starting maxing out cards again.
You now have X number of card repayments to make again PLUS the loan repayment premium each month - so you are worse off than you were before.
Why not try this instead.
Move all your credit card debt to new cards that offer 0% interest on balance transfers.
Yes, you'll pay 2% of the value of the transfer as a fee - but I bet that still comes in under what you would have paid in interest over the same number of months that you have at 0%.
If you need two 0% cards - go get them and split the balance transfers.
Look for ones that give you the longest time possible at 0% - there are some offering 12 months.
Once that is done - destroy the cards you've transferred, all of them and close them down so that you can never use them again.
Now - each month, repay the minimum on one of those cards, just the minimum.
Don't worry, the balance is not growing because you are at 0%, remember? The other card? Hit it with every single spare cent you can scrape each month.
Pay as much as possible back each month - give up your morning Latte and save that to pay off, take your own lunch instead of buying expensive and less tasty stuff in a store and pay off with the spare cash.
Target that card and break it, clean it off.
Now, when that one is clear - don't stop.
Use the money you were paying onto that card and hit the next one in the line.
What you are doing now is clearing cards off, concentrating on one at a time so you see the result and take strength from it's reduction.
We're also increasing the power of your money by targeting one at a time which helps pay them off much faster than normal.
Sure as hell beats taking out a credit card debt consolidation- especially as the issuing company would charge you for taking out the loan and increase the amount you end up paying by lengthening the years t pay it all off.