If you have a difficult time managing your cash flow because of too many debts you may want to consider refinancing your home. Most credit card and personal loan interest rates are much higher than the interest rate you can get on your home. By getting a new loan that takes advantage of the equity in your home you can pay off all your other debts and have only one monthly payment to deal with each month. Do not fall into the trap though of continuing to acquire personal debt once you have consolidated your present debt. Eventually you will run the risk of overspending your home equity.