Anyone with a credit card knows how difficult debt woes are to overcome. It’s like you’re trapped in a vicious cycle of borrowing with overdue notices piling high, and you don’t know how to escape it. You may take some solace in the fact that there are many others like you out there. And while it is easy to be drowning in debt, it does take an intelligent, organized mind to break the cycle and eventually become debt-free. If you want to be that person, here are some tips on how you can pay off your debt.

1. Make a Budget and Stick to It

You have to understand that paying off debt requires planning. The first step to this is having a realistic account of your monthly expenditures, so you can determine where to cut costs. You can use elaborate phone apps or simple computer tools to create a comprehensive budget. Study it and identify where you can cut costs. Once you know exactly which expenditures to curtail for generating pay-back money, it all becomes more streamlined.