You are in debt and you don't want to be. You know people who have been in your shoes and magically, well it seemed that way, were able to pay off their debts and enjoy a debt free life. How did they do it?

The answer is not an easy one because it involves making sacrifices and changing old habits. But, the good news is that anyone who owes money can get out of it! It's just like going on a diet.

At first, it is really hard and you may cheat a little. But, in time you learn the new rules and are able to change your lifestyle for the better and healthier. The same goes for getting out of debt. At first, it's hard. Then, it gets easier and in the end you are out of debt and living the lifestyle you had always dreamed of without owing anyone a dime.

The average American owes somewhere around $10,000 in credit card and other unsecured debt. That is a lot of money and when you look at the interest that will be paid on that debt over time it is mind boggling that anyone would get mixed up in debt in the first place. But, we do, so how do we get out of it?

The answer is to make a plan. You first have to sit down and figure out how much money you owe. This means writing down all your credit cards and other unsecured borrowings and determining what you owe. Once you get a clear idea of how much you owe, you will be more motivated to pay the owed amount off.

Once you have the list of how much money you owe you need to write down the minimum monthly payments for each card and tally that up. Whatever that number is then you should plan on doubling it.

This is hard because you could be paying out somewhere around $1000 per month in various credit cards and the like. Consolidating the credit cards into one or two is really the best plan and it will save you money, too.

Do that if your credit limits will allow you to. If not, then pay off one credit card first and transfer all the others to that card. It will make your life easier and get you out of your borrowings faster.

Now, figure out how much you can afford to pay each month living exactly as you do now. If you can pay double the minimum monthly payment without making any changes then that is great and you should triple the amount you pay to get out of borrowings faster.

If you can't afford double right now, there are ways that you can. Start saving every penny. Don't eat out or go shopping. Only buy the necessities and use coupons. Cut out services you don't need like cable, cell phones, Internet, satellite radio, and more.

Before long, you will see your budget opening up a bit and helping you make your monthly payments. Then, your borrowed load will drop and in no time you will be debt free.

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