The first step in getting out of debt is to stop borrowing. To do that, you have to stop spending more than you earn.
So, make a budget and cut out any expenses you can. It may help to cut up your credit cards or lock them away in a safe place.
While you are making a budget, figure out the most you can afford to pay each month to reduce your debts, then make those payments without fail. If you have debts on more than one credit card, either pay off the card with the highest interest rate first and work your way down to the card with the lowest rate, or pay off the smallest loan first and work your way up to the largest.
Once you’ve paid off your debts, don’t give in to the temptation to start over-spending again. Instead, take the money you were paying each month on your debts and begin to save it. That will give you a financial cushion the next time an emergency strikes. Learn more about reducing spending and creating a budget.