If you are deep in debt that you can't seem to climb out of, maybe you have thought of credit card consolidation. After all, having a lot of credit cards and spending too much on each of them is what got you into this mess in the first place, is it not? So maybe this is the perfect solution for all of your credit card problems.
Maybe... Debt consolidation can do either of two things. It can either ease your debt burden and help you to finally but slowly crawl out of the endless pit that you dug for yourself, or it can only make the hole deeper. Depending on what form of debt consolidation you choose and what kind of spending habits you plan on having after you have found this wonderful solution, you may or may not get out of debt. It is important to know what debt consolidation is, how many different things you can do to consolidate your debt, and which one is right for you and the circumstances you are in.
You could opt to put all of your debt into your home. A home equity loan or home equity line of credit is a great solution for some, because the interest rates are so much better on a home loan than on credit cards. Still, it is important to weigh out the pros and cons. If you choose to refinance your home to pay off your credit card debt, you are putting your home on the line, and may, if you do not pay your bills, actually lose that home.
Another way you could consolidate your debt is to put it all onto one credit card with a low interest rate. This will save you a lot of money on interest because you are not paying so much to so many different creditors. Just one payment, one credit card, and one interest rate. Still, this is risky also because your low interest rate can go up either because it only existed for a certain period of time, or because you neglected to make even a single payment on time.
One option you may take is a credit card consolidation loan. That is when you go to the bank, take out a loan, pay off all your credit cards, and then continue to just make one payment to the bank on your new loan. This, in many ways, can be convenient and effective. Still, it may not save you money.
Because you do not have the greatest credit history, you may not qualify for a low interest rate on your loan. This also applies when you are getting a low interest credit card. If you do not qualify for such a rate, you may end up spending more in interest than you did in the first place. Make sure that the interest rate you are paying now to several creditors actually is more than you would be paying if you took out a loan by adding it all up into one interest rate, then comparing it to the interest rate you would get if you took out a loan.
The Right Thing Do
Mark Twain famously said: "The difference between the right word and the almost right word is the difference between lightning and a lightning bug."
Of course he was absolutely right -- and partially wrong.
As every professional writer knows, choosing exactly the right words to convey their meaning is crucial, because words are all they have. Anything less than "les mots justes", as they say in French, will weaken the message. Therefore, it is worth the time and effort to find les mots justes. Indeed, the commitment to do so is one of the key factors that distinguish professional writers from amateurs.
On the other hand, searching out les mots justes in public speaking can be seriously counterproductive.
This caveat of course does not refer to "formal" public speaking, where the speech is written out in advance. Rather, it refers to "informal" public speaking. This means any time you may be called upon to say something, such as in a committee meeting, a seminar, a training session, etc., with little or no preparation.
We all know people who seem able to speak fluently and persuasively about virtually any subject on a moment's notice. Likewise, we all know people who constantly trip over their tongues and appear bewildered even when speaking about subjects they know very well.
What makes the difference? I believe it is an unnecessary and fruitless search for les mots justes.
I became aware of this phenomenon at a recent meeting of my Brussels (Belgium) chapter of Toastmasters International. Founded in the USA in the 1920s, Toastmasters is a worldwide club of people in all walks of life dedicated to helping each other improve their speaking skills (www.toastmasters.org).
A key role at Toastmaster meetings is attributed to the "ah counter". Throughout the session, he or she makes note of all the "ums", "ahs", "you know's", and other distracting hesitations people rely on when speaking. At a recent meeting of the Dutch-English club (most clubs in Belgium are bilingual), one participant was particularly faulty in this respect. After the meeting I asked him why he had found expressing himself so difficult.
A native Dutch speaker, he had given a speech in English. He replied, "I am unsure of my English, so I was always looking for just the right words." In other words les mots justes.
This sounds like a credible explanation, except it is invalid.
Although using the right word is critical in writing, it is much less so in speaking. While closely related, writing and speaking are distinct disciplines.
Writing and speaking benefit from precise information (les mots justes) for the same two reasons.
1. Confidence. The more you seem to know about your subject, the more people will have confidence in what you say. Using precise information generates confidence.
2. Consistency. Precise information does not permit unpredictable misinterpretations. The more precise information you use, the more easily your audience can follow what you are saying, without their attention being distracted trying to figure out what you really mean.
On the other hand, readers and listeners differ in how they process precise information. With a printed text, if people don't understand something, they have the luxury of reading it again. However, if they hear something they don't understand, it's there, then it's gone. End of story.
This is not a bad thing, because it means that listeners are less critical than readers. They are looking to take away broad general ideas. Details in the speech serve to define and defend these general ideas. They are not to be memorized for later examination.
Listeners also more easily accept the validity of a general statement with less supporting information than they would require in a text. Thus, while a bit of imprecision may cause a momentary blip in the listener's attention, it will quickly disappear because neither the speaker nor the listener is in a position to dwell on it.
In short, while using exactly the right word is always recommended, in speaking you shouldn't become obsessive about it. For any subject, there are usually several ways of saying the same thing. If you are always looking for the "best way" (assuming there is one), then you will invariably find yourself inserting "ums", "ahs", "you know's", and other distracting interjections. In the vast majority of cases, sacrificing fluency while searching for les mots justes just isn't worth it. So go with what you have.
If something comes out of your mouth that you think you could have said better, simply start your next sentence with, "To be more precise . . . .", then say it better. This technique will not only keep your speech fluent, it will make you appear to be master of your subject, not its apprentice. What could be better than that?
Philip Yaffe is a former reporter/feature writer with The Wall Street Journal and a marketing communication consultant. He currently teaches a course in good writing and good speaking in Brussels, Belgium. His recently published book In the ?I? of the Storm: the Simple Secrets of Writing & Speaking (Almost) like a Professional is available from Story Publishers in Ghent, Belgium (storypublishers.be) and Amazon (amazon.com).
Philip Yaffe has sinced written about articles on various topics from Writing, Public Relations and Writing. Philip Yaffe is a former writer with The Wall Street Journal and international marketing communication consultant. He now teaches courses in persuasive communication in Brussels, Belgium. Because his clients use English as a second or third language, his. Philip Yaffe's top article generates over 165000 views. Bookmark Philip Yaffe to your Favourites.
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