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Debt is a stressful and sometimes even frightening cloud to be under. It's important to remember that whatever your situation, or your amount of debt owed, you have options and you can create a plan to steer yourself out of debt.

Your first step is to create an overview of your debt owed, your expenses and your incoming funds. It is essential this plan cover every financial aspect.

You may feel that either from a lack of organizational ability or from an overload of stress and upset, you are ill equipped to carry out this task. If this is the case seek support in the form of a friend, family member or support group.

Support groups are very motivating, and especially in on-line forums. You are sure to be able to find someone who's got you beat and has more debt than you are facing while equipped with less means to pay it off. This reinforces the very important message that you are dealing with an achievable goal and not a fanciful impossibility.

Assess how you came to be in debt. If you aren't able to pin point what went wrong with your finances then it will be difficult not only to make changes but to guard against recurrence of this issue in the future. Did you spend above your means, rely on speculative investments or neglect to save for emergencies? By recognizing problems you can understand your situation and begin to exert control upon it.

Once you are ready you need to make your financial overview. You can use a pen and paper, a spreadsheet package or both. First make an overview or your debt or debts. List the amount owed to each source, the interest rate, any contact information you have and any other pertinent details.

Next make an overview of your incoming and outgoing funds. Like your debt overview this information needs to be accurate in order to be of any use. This means that you need to account for unnecessary as well as necessary spending and don't omit to list things like cigarettes, nights out or eating out. If you are serious about beating debt then getting a handle on how your finances are flowing is essential.

Once in possession of this clear picture of your finances you want to create a budget to make debt repayments with. In order that this repayment budget should be sizable, you will need to examine your finances, maximize incoming funds and minimize your expenditure.

At this point a bit of belt tightening will come into the frame but it's not about sacrifice so much as improvement.

Good spending habits and the ability to control

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