If you have gone through a lot of time and effort to set up a debt consolidation plan, then the worst thing you can do is to not keep to it. If you truly wish to be debt free then it is vital that you have a change of mindset and start to change your whole attitude to that of someone who will be debt free soon. If you do not do this then your plan may be in jeopardy.

Firstly, through a debt consolidation plan, you will have paid off your existing borrowing on the credit cards that you already own. Unfortunately, this means that you will now have a bunch of credit cards with big shiny zero balances on them. In your old life, with your old ways, this would have been very tempting for you. But the new you is totally different. Cut up your cards. Do not only cut them up, but write to the card issuers and ask them to cancel the cards. This will have two immediate benefits for you. First, you will not have access to that extra credit. Second, your credit score will improve if it shows that you have had loans which you have paid off and closed the accounts.

The next thing to do is to try and transfer all your borrowing onto the lowest possible interest rates. This could mean paying off the lowest interest cards first and then transferring balances from the other cards onto them. This sets up a spiral of debt repayment through which you are constantly reducing the interest that you are being charged. But you have to actively do it.

You must change your spending habits completely. With credit cards, it is really easy to spend unknowingly. Look around your house at all those must-haves you have accumulated. Did you really need to buy that 37th pair of shoes? You can wait until you have repaid your debts and then have the feeling of being completely debt free which is a hundred times better than those few seconds of joy you get by purchasing another item.

If you have a plan, it is very important that you stick to it. If you have taken out a debt consolidation loan, then your home may be at risk if you do not repay it. For any other type of loan, it is extremely important that it is repaid. It is your path to a much brighter, debt free future.