Stop acquiring new debt! This may seem self-evident but don’t expect to make great strides in reducing your debt if you keep piling it on. Stop using credit and get rid of your credit cards. Avoid financing large purchases. Build up a savings. Contrary to most debt advice (which counsels to pay off high-interest debt before putting cash into savings), you need a savings in order to cope with any unexpected expenses or emergencies. How will you pay for unforeseen medical bills or car repair? Face your debt demons - evaluate your income-to-debt ratio (how much money you bring in versus how much you owe). This will enable to you to see exactly where you stand and how much you owe. Track your spending to see just how much you spend on needs versus your wants. Identify unnecessary purchases and develop a plan to reduce them so you can free up more of your money to pay down your debt. Find credit cards that offer a lower interest rate and do a balance transfer. Be forewarned, that some balance transfers require a fee that is tacked onto your overall balance. Spend more time outside. Generally, outdoor activities (think hiking, biking, sunbathing, etc.) cost less than those indoors (shopping, movies, eating out, etc.). Spending time enjoying the great outdoors during good weather can help curb your spending. Spend a few hours online researching insurance quotes to see if switching to a new carrier would help reduce your monthly rate. Just bundling your car insurance with the same company that insures your home can save you money. Indulge once in awhile. Going cold turkey only increases your chances of slipping back into your old spending habits so treat yourself every so often. While incurring a mortgage is simply a part of life, there are ways you can pay it off faster and reduce interest. If you need a little fiscal encouragement, look into a mortgage prepayment program or make semi-monthly payments. Put extra money towards your mortgage to help pay off the principal.