Dear Dave,

How do you feel about moving credit-card balances to other companies to get lower rates when you’re trying to get out of debt? I just paid off my first credit card, and a friend suggested this idea for paying off the others faster.

— Von

Dear Von,

Lots of people think they have really done something big to solve their debt problems when they do this.

And I’m sure your friend is trying to help with this suggestion, but you have got to remember that getting out of debt, and gaining control of your finances, is all about changing the habits of the person you see in the mirror every day.

You have got to make a commitment to a lifestyle change that includes getting out of debt, staying out of debt, and sticking to a written, monthly budget. That includes keeping track of every single dollar, giving it a job to do, and living on less than you make.

Now, your friend’s idea might help speed up the process a tiny bit. But the habits that got you into debt in the first place will not change just because you have switched credit-card companies.

What you’re talking about is an easy way to lower the interest rates — temporarily, in most cases — but it does not change your everyday behaviour with money.

When people have problems with debt, it’s often the result of dumb financial choices and living above their means.

I have run into so many folks who got into trouble with money just because they wanted to impress other people.

But guess what? When you change, interest rates don’t matter nearly as much. And when you shift your mindset about money, it will make a huge difference in a way that changing credit-card companies and chasing lower interest rates can’t.

I hope this helps, Von. And take a look at my Baby Steps plan while you’re at it. I promise, if you follow those steps, it will help you move forward, get ahead and put you on the road to a debt-free life and financial peace!

— Dave

• Dave Ramsey is an eight-times national bestselling author, personal finance expert and host of The Ramsey Show. He has appeared on Good Morning America, CBS This Morning, Today, Fox News, CNN, Fox Business and many more. Since 1992, Dave has helped people regain control of their money, build wealth, and enhance their lives. He also serves as CEO of Ramsey Solutions