Fix the problem

If you are in debt, you've spent money more quickly than you've earned it!

In order to get out of debt or stay out, you've got to spend less than you earn (and apply the difference to savings & reducing debt).

You'll need to reduce expenses or increase income, or a combination of both. Too often increases in income result in increased spending, so curb the spending first if possible.

Some have said: ?It doesn't matter how much you earn, but it does matter how much you spend.?

Analyze your spending habits. What caused your debt? Do you need to fix a leaky wallet? Some people need to record on paper everything they spend for a month to find the leaks.

A dollar a day for soda is $365 a year. The estimated long-term cost of a pack of cigarettes is ~$40.

Scrutinize your needs and wants. Be willing to forego some of your wants, and postpone others in order to get out of debt. Only borrow for things which increase in value, not toys.

Seek to eliminate some of your expenses, especially recurring expenses. Many who are buried in debt have expensive cell phones, satellite TV, expensive phone options, internet service, storage units, and other monthly conveniences which prohibit them from reducing their debt burden.

There is nothing magic about getting out of debt. If an offer sounds too good to be true, it is! Many companies who claim to be able to help you, will worsen your finances if you let them.

If you are an impulsive buyer, hide your credit cards at home in a safe place.