To get out of debt, you first need to find out the source of it. Pay it down. Second, stop spending money you do not have. Stop purchasing items you can not afford to pay for. It is that simple. You are bleeding financially and are in danger of an economic hemorrhage. You can control the bleeding if you cut some of your careless spending. You have to focus more on living within your means. You do not have to get the latest pair of shoes or the nicest coat. Paying less for an item does not make you less of a person, just a frugal one.

The entire country is in trouble with debt as well. The majority of youth between the ages of 18 and 25 have some type of debt. This is mainly from student loans. The problem with this generation is that they have been taught to get things right away. We are living in what I call a "Minute Rice" society. Everything has to be done in a New York minute. Messages are transmitted all over the televisions that getting things faster is always better. This is not necessarily true. Sometimes being anxious for things can get you in trouble. That is why so many people are in the mess they are in with the housing crisis. Many people jumped into contracts they did not understand. They attained mortgages they thought they could afford until the payment balooned. They did not take the time to comprehend what type of mortgage they were getting. This is what I mean. Doing things too fast leads to trouble.

That is why the economy is in the situation it is in now. What people need to do is this. Work with what the income they have. If you want something, don't charge it. Earn the money and then save to get what you want. You might not attain it as fast, but let me tell you something, you will leave with the dignity of knowing you earned the money to purchase that item. Below are some steps to getting out of debt.

FIND OUT HOW MUCH DEBT YOU HAVE

The first step to getting out of debt is finding out how much debt you actually have. You have to get your papers on the table and find out how much you owe in student loans, car loans, personal loans and credit cards. Add it up. It is also helpful to have a money coach with you. Once you find out the round number.

GET HELP!

No one can do everything by themselves. It is ok to ask for help. I suggest getting in touch with a money coach or adviser that can help you or your family draw out an action plan. They should be able to assist you in prioritizing your expenses.

GET ON A BUDGET

Once you know where

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