<prompt> Human: Hello my wife and I are in a pickle. We have a couple of credit cards that we use and pay off. Problem is we have one with a high balance about 3k. We pay for it but interest is very high I cannot recall ATM. Though we do make payments it just seem like it wont budge. Is it ever a good idea to take out a loan in order to pay off the balance of a credit card. Other than the card its just my wifes student and car debt and it would help us out tremendously to get rid of this debt  <response>: Taking out debt to pay off debt to reduce interest cost makes sense only when you have changed your spending habits to prevent the same scenario from repeating itself in the future...unless you change the behavior, you will be in worse shape 2 years from now than you are in now 