It almost seems a contradiction in terms to say that to make money you need to create a debt but it is what businesses have been doing ever since they were invented. They effectively borrow to make money, to make things or deliver services and what is left over is called a profit. Now, why shouldn't you do the same? Firstly, you need to apply to as many credit card companies and loan companies as possible. You need to stagger these applications over a number of months, preferably a year, in order not to damage your credit rating too much. Try and get as many 0% deals as you possibly can.

Now that you have found the best offers and received your new credit limits, transfer any outstanding balances to those cards that are attracting 0% interest. If you have any balance that is attracting interest you should begin right away by paying as much as possible towards this balance each month. A word of caution; do not make any new charges on this card, most lenders will charge higher than normal interest rates on all new purchases. This is how they offset the low balance transfer offer. They know that most people will eventually use their new card for purchases. You should only use this card as vehicle of savings. This card is not intended for everyday use.

Whatever it is, lending institutes like secured loans because it reduces the risk they have when lending money. Unsecured loans are high risk endeavours for them because if someone defaults on the loan, there is little they can do to get their money back. On the other hand, secured loans have some kind of guarantee which makes them much more a risk-free investment for the lending agency (the defaulting loan receiver could still go bankrupt with a secured loan). Because there is little to no risk to them, they are willing to pass some of that savings on to you in the form of reduced interest rates and longer repayment terms.

Student loan consolidation gives you the opportunity to get a lower interest rate. Many lenders are interested in your business and the interest rates you receive can be very competitive. Make your loans fit your budget and save money. Buy to let loans are another opportunity, but be wary of when the market shifts. For example, if interest rates go up, but rents do not then it means that you have the same income to pay off an increasing mortgage payment. This means that if you buy that same $150,000 house now, getting the same $1,200 a month rent, that you are going to pay some money out of your pocket to make up the difference between the mortgage and the rent. This is called an alligator, because you have to feed it.

However, you should check out interest rates at various banks. An hour spent this way may yield many hundreds of dollars worth of savings. You can also buy fixed rate mortgages but these will generally work out a worse deal in the end, but they do remove the volatility and that might be a price you would prefer to pay.

A final point is your credit score. How does that affect you? If you're looking to buy a car or get a mortgage, a better credit score means lower interest rates for you. That can save you thousands of dollars over the life of a loan or mortgage.