Take a deep breath and repeat after me “I am in debt and I need to do something now before it’s too late”. Now don’t panic, everyone makes mistakes, in this case, the gravity of it is measured by the number of zeros you have to pay at the end of every month. But let’s see how we can fix that shall we?

First of all you must understand why you got yourself in debt in the first place, and if you really want to get out of the mess you need to be realistic. I’ll answer that question for you. No, you didn’t need to buy the next generation IPOD just because it was new. You understand how this works now?  

Perfect. Once you pass the task above you need to realize that the only way to get you out of debt is by start saving money and the only way to do that is by changing completely the way you are handling them, it is that simple. The salary has nothing to do with it, but the ease that you have when spending money does. Understand that when you don’t have money to pay your bills, a pair of jeans is a pair of jeans no matter what brand is written on it; which reminds me, avoid malls at all costs, pay in cash and stop using your credit card.

Last but not least, educate yourself basic money management principles, keep track of your spending, make a spreadsheet and at the end of every month look over it and see what you could have done better.