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Most Americans will go into debt at least once in their lifetime. Once you go into debt, it is very difficult to get out, and for some people, it’s almost impossible. The first thing you should do when you’re trying to get out of debt is make a list of a month’s worth of expenses. You may find a lot of items that you can cut from the list. This process by itself will save money that you can apply toward paying off your debt.

Make a list of all your bills and work on paying off the debt with the highest interest rate first. Pay only the minimum payments on the other debts. Debt with high interest costs a lot of money in the long run and you should take care of those right away. The sooner you pay off these bills, the better.

When you focus on paying off your credit card debt, pay as much as you can afford each month. This will help you pay off the cards sooner, saving you money you otherwise would’ve spent on interest. In the future, instead of using credit cards, use a Visa prepaid card. With these cards, you avoid paying interest and you’ll never spend more money than you actually have. With a prepaid card, you put the money on the card before you use it. You are not making purchases on credit.

Put any of your leftover cash into a savings account. Even if it’s just a few dollars a week, the money will start to accumulate. Instead of buying a $5 cup of coffee every morning, put that money into your savings account. That’s $140 in extra savings each month!