Consolidating your debts could help you save on interest.

Borrowing for most people is a fact of life. From the day of your first permanent job to the day you retire, you’ll receive a multitude of offers for credit cards, store cards, personal loans, home loans, and other lending facilities – which can all offer benefits at various stages of your life.

Taking a haphazard approach to how you borrow money, however, can mean your loans end up becoming more burden than benefit – draining your finances heavily and unnecessarily over time.

If you have more than one credit card, loan or store card, it’s smart to consider consolidating them into fewer facilities, or even just one.

No single debt consolidation approach will fit every situation. A Westpac consultant can:

• Recommend products and a borrowing approach that best meets your practical needs and is cost effective.
• Refer you to a Westpac Home Loan Expert to see whether consolidating debt to your home loan would be a suitable strategy for you.
• Help by suggesting ways you can simplify your debt and repayments.