Do you know how much money you spent last month? The majority of people know how much money they made but have a vague idea of how much they spent. Not having a solid control of your money both incoming and outgoing is an essential part of controlling debt. With today's society operating primarily on credit, it is very easy for most families to spend more money than they make thus increasing the amount of their debt.

In the past, the way that families saved their money was to set aside a certain number of containers or envelopes and label them for their uses. They would then use only the container or envelope for specific purposes and when it was empty, they did not spend. Therefore, their debt was minimal (if at all) and there savings increased with each pay period. They also knew where their money was going. With today's technology, people rarely see or handle their money and this makes it very easy to spend up to 10 percent of your income without even knowing where it went.

To begin the process of controlling debt it is important to know what you are doing with your money. This is where credit counseling can help you get on track. Most credit counseling services offer:

* Immediate decrease of monthly payments

* Decrease in the amount of collection phone calls

* Interest and fees are stopped and/or eliminated

* They show you how to manage your money to stay out of debt in the future

* You are unable to use credit cards while using consolidation services

* Ability to meet the minimum amount of unsecured debt in order to qualify for services

* When you begin consolidating your debt it could have a negative impact on your credit rating

The choice to use credit counseling services is a personal one. Finances are a very personal issue as such it is important that the service you decide upon is one that you feel comfortable talking to the representatives. There are many reputable agencies available to assist you in getting out of debt; there are also agencies that do not have the best reputation. Therefore, it is important for you to research the services you are considering and verify that they are reputable and have a good report with a large number of creditors. Remember, they are the ones you are choosing to act on your behalf. You want an agency that will be able to negotiate the best terms, which will help you in reducing your debt.