Is the recession over? With all the prices of commodities hiking up and our salaries not increasing, managing personal finances become tougher than usual. Even if I am earning online aside from my full-time job, I also have loans that I am paying monthly. But it's just with the Social Security System alone so debt consolidation is not necessary in my case.

Some people contact credit counseling companies to seek help for their debt consolidation needs. This is done to lower the interest rate of existing loans, secure a fixed interest rate and to conveniently sort out existing loans.

Credit counseling organizations can help people manage their finances through financial literacy programs. All of us can have proper spending habits if we are aware of the consequences and promises of being a healthy spender. I am so lucky to have attended the free session of Personal Finance Management here at the office.