Lisa is 30 years old and works full time as a primary school teacher. She recently attended a financial planning workshop you hosted, and she liked what she heard so she has hired you to be her financial planner.

You are in the process of developing a comprehensive financial plan for her and have asked her to come to your office for a meeting and to bring all of her loan-related statements.

"I am a bit confused," says Lisa. "I don't understand why you need to see these statements. I thought you were helping me plan my investments, save for retirement, and make sure I have appropriate insurance coverage." You explain to Lisa that a comprehensive plan includes a detailed review of all of a client's financial affairs, including their use of credit. In the same way, you will review her investments every year you will also be doing an annual credit check-up on her to ensure she is minimizing her expenses related to the use of credit. Since rates have been falling over the past few years and the bank's prime rate is now at 2.5%, there may be opportunities to save Lisa money. Upon review of the papers Lisa brought in, you discover the following:

• Lisa had some debt issues about 3 years ago. She maxed out three credit cards to the tune of $18,000 and was struggling to make the minimum payments, so her banker gave her a consolidation loan at an interest rate of 8.5% and took a $30,000 GIC as collateral, which Lisa had inherited from her late aunt Peggy. There is a balance of about $10,000 owing on the loan with three years remaining on the amortization.
• Last year Lisa received an offer for a $15,000 Line of Credit from MBNA Bank with an interest rate of 7%. Lisa needed a vehicle to get to work, so she took MBNA up on their offer and promptly purchased a used car for $14,000. The line of credit requires a minimum payment of the interest owing each month, and that is about all Lisa has been paying for the last year, so she still owes $14,000.
• Lisa has a Bay Credit Card with a limit of $5,000, an interest rate of 29%, and a balance owing of $3,000, which she used 4 months ago to pay for a trip to Mexico. She also has a premier Visa card with a limit of $5,000 and interest rate of 18% and a balance owing of $500.00.

List 3 things Lisa should consider doing to save her interest and improve her credit position.