1. List your debts. Take stock of where you owe your debts, the balances of these debts, and their interest rates.
2. Make a budget. Budget your income and expenses to see how much money you can throw at your debts.
3. Set goals. Strive to pay off your debts in a reasonable amount of time, so you can move on with your life.
4. Re-negotiate the interest rates. Credit card companies want you to pay them back. They want money, and they want to help you find a way to get them that money. If it means a lower interest rate, they just might be willing to do that.
5. Start paying them off. Start with the highest APR, it will save you money over time. Also, make sure to pay more than the minimum amount each month.
6. Scale back. Sell what you can. Cut costs where you can. Move into a smaller apartment. Take the bus to work. Stop eating out so much.
7. Ask for a raise. Re-negotiate your salary. Look for new opportunities to increase your income.
8. Make a side income. Start a side-business. Begin freelancing. Try blogging or making YouTube videos.
9. Put down extra money when you can. If you come across any additional income (such as an inheritance or bonus), throw that money straight at your loans.
10. Keep the frugal habits after you have paid off your loans. Keep saving your money. If you continue to practice frugal habits, you won’t be put in a debt situation ever again.