Seven Similarities Between Dieting and Debt Consolidation

February 04th, 2010

Ever been on a diet to trim a few extra pounds? Cutting expenses and consolidating debt is like being on a diet. Here are seven ways in which dieting and debt consolidation are similar.

Google the word “diet,” and you’ll see well over 100 million search results. Google the term “debt consolidation,” and you will see more than 20 million results. Ask Americans for an area of their personal life they have difficulty controlling, and two of the top responses will be diet and debt.

While the diet industry is more prolific than the debt consolidation industry, the two are operating on many of the psychological and emotional impulses. The “cure” for each also follow similar rules.

Debt Consolidation and Dieting: Seven Similarities

In the current economic environment, many people have financial goals: to cut expenses in response to job loss or pay cuts, to save money for a down payment to take advantage of low home prices, to cut monthly obligations to qualify for a home loan, or to save money to refill retirement accounts that have been drained by the market. Whatever your purpose for reducing expenses and consolidating debt, to be successful, you need a goal and benchmarks, support from others, and a good dose of both commitment and patience.

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