The first thing to do is to come to the realization that you have to get out of Debt as fast as possible.
The longer you stay in debt, the more interest you pay out.
Stop adding to your debt. Another loan will not solve your financial problems, and using your credit card is not smart at all.
Now its time to come up with a plan. The plan itself is more like re-evaluating yourself on a monthly basis and be honest about your expending; ie: what you need and not what you want.
Reduce and eliminate any unnecessary spending.
Have a budget and stick with it. Instead of shopping with a credit or debit card, take the amount of cash you need for your basic shopping, have a list of items with you, and stick with it. Do not buy commodities and be aware of "deals" (there are not always what it seems), do the math for yourself and if is not a needed item them do not buy it.
Write down all you debt and the interest on it. Pay off the debt with the higher interest first. Consider using your savings to pay off the debt, interest in savings account are very low while interest on debt is high. You will save money in the long run.
Downgrade whenever possible. The newest smart phone is not a must. Can you do with a smaller car or smaller house?
Adopt a minimalist life style.
Adopt a zero waste life style.
These two will save you a lot of cash.
Are there things that you pay someone to do that you could do yourself? ie: cutting your own hair is much easier that you may think. Washing your car can be quite fun on a summer day.
No saving is too little. Save Save Save. Even the little pennies here and there, will add up and can go towards paying your debt. Do not overlook the power of saving your coppers.
Re-use everything, from shopping bags to carefully opening presents so you can save the wrapping paper to re-use.
Grow your own food. Ok, you may not have a garden big enough, and you may thing you do not have the know how, but growing a tomato plant is easy and you will reap the fruits literally. Grow your own salad. Or even easier, grow a fruit tree and berries, they are easy to manage, require little input or work from you, and will provide a lot. Little trays of blueberries or raspberries can be an expense, but these are super easy to grow, you do not even need a garden, you can grow these in pots.
Having a mortgage is not an asset, it a liability until you sell or pay it off. So pay it off a soon as possible, many mortgages provides will accept an over payment per year, or save on the side to pay it off quicker.
Wear your clothes out, and buy from charity shops. With a little bit of patience, you can hunt for brands and pick up some very impressive outfits for very little money.
Write down you debt on a board, and update it regularly to see your debt going down. Or have a spreadsheet that you can update as you reduce your debt. This will serve as motivation to keep saving and paying it off.
Have a bit of fun!!! Many people fear any type of change, they feel to comfortable on their old ways and feel they cannot comprise in their current life styles, but a few changes like the ones suggested above can make a big difference on your wallet!
It is surprising to realize how you can manage with less stuff when you become minimalist, or how much greater you feel for re-using items that would otherwise be wasted. These little changes all contribute to a happier and free life choices. You will also become more confident in-yourself and your ability to deal with problems.
Less is more!