Eliminating debt is s feat that most of us can't seem to overcome.  Essentially is has to do with not only spending less, but also spending more on paying down debt.  A double whammy, I know, but we must persevere.   It's important to realize that most of us did not get heavily into debt overnight.  Instead, it took months if not years to run up the amount of debt many of us are in.  That said, short of winning the lottery, it will probably take us just as long to get out of debt. 

With the number of bankruptcies rising and foreclosures skyrocketing, many people are coming to realization that they must resist the urge to splurge.  So, you are definitely not alone.  But, we must change our bad habits and think differently about money. 

It's easy to decide to change.  It's much harder, however, to actually do it.  I don't like the financial planners who make it sound like going cold turkey is the simplest way to go.  That's simply not the case.  But, I do believe that you have to take the first step or you'll never get off the sinking boat.  Yes, it will take some work, but financial freedom is worth it long run..

First things first…make a budget and write it down.  Now this is not difficult.  Make a list of all of your monthly expenses and a comprehensive list of your creditors.  Look at your bi-weekly or monthly income and plan out how much money you have to spend to take care of your monthly obligations.  Then look at your creditors and out of the money you have left out of each paycheck, pay as much as you can afford to pay (making sure to at least pay the minimum amount).  Paying the minimum amounts won't get us out of debt.  However, making a plan will allow us to see when we will be able to pay two or three times the minimum due to our creditors in an effort to eventually pay them off.