Sooner or later, most of us are going to find ourselves with more debt than we really want. It could be the gradual accrual of interest on revolving debt creeping up on us. Or it might be an event involving health, divorce, illness of a pet, or caring for an elderly parent that can easily tip us from financially confident into a situation where our level of debt starts causing real anxiety. You can save money each month, if you have good credit, by consolidating multiple debt payments into a single payment at a lower interest rate.