A recent survey carried out by a major loan provider and debt free consolidator shows that the majority of Americans do not plan to seek out professional help in getting their spending habits under control and living a debt free life.  In fact, 80% of those surveyed went so far to say this, while 76% of those surveyed have outstanding credit card loans and/or personal loans.  Additionally, half of these people only make the minimum required payments on their loans.  Even more alarming is that nearly 20% of those with debt, are considering purchasing a car, while another 20% say they are planning on doing home improvements at an estimated cost of more than $3,000.

So what does all this mean?  It means that the majority of Americans do not know how to combat debt and become debt free.  If you are already in the hole financially, the first thing you need to do is consolidate your debt, and devise a strict spending plan that you stick to at all costs.  It is one thing to consolidate your debt and get you interest rates down.  But this can be all for not if you continue spending money on loans and making irresponsible purchases.