It seems to be getting easier and easier to get into debt. Credit card offers seem to turn up with increasing frequency, and it's hard to resist, particularly if things are tight. The problem is, it's easy to get into debt, but it's not so easy getting out of it again. You need to exercise financial discipline, and have an idea of exactly what you need to do to rid yourself of debt.

One of the first steps you should take is to stop using your credit cards. The interest rate on credit card debt is usually one of the highest around, and if you're not just carrying a balance but adding to it, the interest charges can be enough to cause you some serious financial hardship. So get yourself a debit card. That way you can only spend money you have in your account, and you're not increasing your debt at all. At least then you've got some chance of paying down your debt.

If you don't think you can go cold turkey on your credit cards, then take a look at the ones you have. If youre carrying a balance, then generally it's best to pick the card with the lowest interest rate. Then, get out your scissors, and cut up all the rest. Unfortunately it won't make their balances disappear, but if you do need to use a credit card in an emergency, at least the only one you have left is the one with the cheapest interest rate.

The next step is to find out whether you can transfer the balances of the cards you just cut up to the low interest rate credit card. If you can, then do it. This is even more effective if your card gives you some sort of grace period before charging full interest on any balance transfers. If you can't do this with your existing card, it may be worth opening a new card that gives you the option of transferring balances for 0%. Generally you'll only get the low interest rate for a short period of time, but if you can focus on paying off as much of the balance as you can, while you're not incurring any interest charges, the better it will be for you in the long run. Make sure you chop up the card immediately though - don't use it!

If you own a home, check to see if you have any equity available. If you do, you may be able to apply for a home equity loan or a line of credit against your house. The interest rate on mortgages is generally a lot lower than for credit cards, so that should make it easier for you to meet your commitments each month. Use the new loan to pay off all your credit cards, and then close those credit accounts. If you want to keep one credit card for emergencies, make sure it only has a small limit, such as $1000. Now, focus on paying off the new home loan. If you were paying $200 a month in interest on your credit cards, but now only have to pay $100 on the new home loan, pay $200 anyway. That way you'll pay down the loan a lot quicker, and get rid of your outstanding debt.

Another option is to take out a personal debt consolidation loan. Banks, credit unions and other financial institutions offer this type of loan. Again, use it to pay off all your credit cards, close them all down, and focus on putting every cent you can into paying off the personal loan.

If you want to speed up the process, take a look around your house and see if you have some unused stuff that you could sell. That might include jewelry, furniture, antiques, etc. With the advent of sites like eBay, it can much easier to dispose of your unwanted things at a good price. Make sure you pay all the proceeds off your outstanding debt.

Debt reduction takes time, and you have to exercise some discipline. But if you work out a plan and put it into action, you'll be surprised how quickly your level of debt starts to drop. And once you're debt free, make sure you remember how much you disliked in debt, so that you can make sure you're never tempted to go down the path of overspending on credit cards again.