Curtail spending. The first step is to stop the bleeding. If you’re trying to get out of a hole, you’ve got to stop digging first. So make the decision right now to not use your credit card except in emergencies. Cut back on your spending in any way you can, at least for now as you try to get out of debt. Consider tracking your spending for a week or two at least, writing down every purchase, so that you can see where your money is going. Some suggestions for cutting back: eating out, going out, magazines, expensive coffees or other drinks and snacks, new gadgets, non-essential clothing purchases, non-essential furniture or home purchases, to name a few. Now, I’m not suggesting that you never eat out or go out to have fun — but I am suggesting that you cut back on these types of spending. Find other ways to have fun that don’t cost as much.