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Into debt can be very easy but it is difficult to pay it off. In America, the average person owns eight credit cards and is $10,000 in debt. Many people, using credit cards is a way of survival due to a job loss or emergencies like medical expenses or repair bills. For others, it is simply a lack of control of overspending and not keeping track of how much they are spending. No matter what your reasons are for being in debt, you can find a way out of debt.

Cut Expenses and Plan a Budget

Many people, the word budget sounds as bad as diet. But in truth, budgeting your money is a positive thing and will help you get out of debt. Look closely at your finances to determine exactly how much you need to live on each month in comparison to how much you earn. If you are spending more than you earn, look at expenses that could be eliminated. Extended cable TV, memberships, dining out, and going to movies are just some examples of money spent that could be eliminated. Little things like buying expensive coffee each day or eating lunch out can add up to big expenses for the month. If you are serious about paying down your debt, you will eliminate wasteful spending so you can actually live on your income each month without using a credit card.

Stop Using Your Credit Cards Today

A difficult step, but the sooner you stop using your credit cards, the less debt you will have to pay off. If you budget your money carefully and eliminated wasteful spending then you should be able to stop using the credit cards or at least narrow the use down to one. Take all but one credit card out of your wallet and lock them away so you don't use them. Then, make a pact with yourself to not use the credit card in your wallet for anything other than an extreme emergency.

Organize Your Credit Card Debt

Take all of your credit card statements and place them in front of you. Look at the interest rate on each statement and place them in order of the highest interest rate to the lowest. Most specialty and department store credit cards charge the highest interest while national cards tend to charge less. You will want to consolidate the balances of the highest interest rate cards onto the lowest interest rate card. National cards offer deals where you can consolidate your debt at a lower interest rate. If all of your cards are at a high interest rate, shop around for one that offers a lower rate. Place as much of your high interest balances on the lowest interest card as possible. Consolidate down to as few bills as possible so you will be able to make the payments every month.