-
Step 1
Figure out how much debt you are in. Take all your bills and write them down in a notebook. Once you have a good idea of how much you are in the hole, you can start to plan how to get out of it.
-
Step 2
Ask your credit card company for help. Sometimes a simple phone call can lower your interest rate. This will translate to less debt and more money to pay off debt.
-
Step 3
Start pinching your pennies. Look at what you spend your money on. You can do without your fancy Starbucks coffee and save about $20 per week. If you want to get out of debt, you have to stop creating it.
-
Step 4
Visit a credit counselor. A credit counselor can help you consolidate your loans and point out which debt to pay off first. Many people find this helpful because their counselor is able to put them on a specific plan with variables they may not have thought of themselves.
-
Step 5
Use cash as much as possible. With cash, you can only buy what you can afford and can't splurge. If you can do it, cut up those credit cards! If they aren't around to use, you can't put more purchases on them.
