Whether you're tens, hundreds or thousands of dollars in debt, reducing that debt takes dedication and diligence. To start, do not accrue any more debt and instead only spend within your means. To reduce the debt you already have, list all your debts from smallest to largest. "Start by paying off the smallest debt," suggested Martin, who explains that the reward of paying it off can motivate you to work on your larger debts, too. If necessary, work with a financial specialist to help you create a plan of attack.