Americans are in a heap of debt trouble today. According to the American Payroll Association:”67% of Americans would find it difficult to meet their current financial obligations if their next paycheck was delayed for one week.”You heard it right. Americans are living from paycheck to paycheck, feeling faint whenever delays are inevitable. With this grim picture in the background, where is the space for savings? For good and profitable investments?Inevitably, living from paycheck to paycheck means there are debts to be paid- and this is when private loan consolidation and other measures appear.Paralyzing DebtsDebt, like a silent tumor, begins slowly enough. Take the case of Lisa and Wade Norwood of Rochester, New York. Lisa shares that:”Our problems started when we began living beyond our means on credit cards. We admit to not managing their money well in the past but we are making an effort to spend less, but the recovery process has been slow, and we still find ourselves strapped for cash each month.”Wade and Lisa have $43,000 in mortgage, and they have an annual expenditure of about $15,000 on household items and food. Their problem is not uncommon, and is fast becoming the staple tale of young families and even members of the more advanced generation.The Expert Comes InWith the Norwoods as our particular case study, let’s listen to a financial advisor see what he makes of the situation. According to Herb White, a certified financial planner and managing director of Colorado-based Life Certain Wealth Strategies:”The Norwoods should consider joining a credit union and taking out a private loan consolidation to lower their monthly fees. Although private loan consolidation seems like a cure-all, there can be drawbacks. Borrowers with very high debt may not qualify for the lowest interest rates, which are usually given to those with excellent credit.””However, this option will work for the Norwoods because they have paid their cards in full and on time for more than a year. And if they take out through a credit union, they can benefit from lower rates.”Getting to the Bottom of the ProblemSometimes, even the best private loan consolidation cannot solve bad “money manners”. If you are a spendthrift, your money will be obliterated. It’s that simple. According to Daisy Reese, a director at California-based Insight Financial Group and co-author of True Self, True Wealth: A Pathway to Prosperity:”We all carry messages about money we learn as children. Most people act out one of 10 money scripts: co-dependent, coupon clipper, craver, gambler, hoarder, masquerader, power player, prince or princess, procrastinator, or victim. The Norwoods were operating under the co-dependent and the masquerader scripts. Co-dependents tend to put others first, while masqueraders typically desire to win admiration.”As you can see, the ten money scripts above can be applied to anyone with money problems. To get to the root of the problem, you must be able to identify who is ruining your finances at home. That way, all your efforts at saving money and investing will not go to waste.