1. Evaluate all expenses (budget)
The first step in getting out of debt is finding more money. And a great way to do that is to evaluate all your expenses to see where your money is going. You can do this by tracking all your expenses on a spreadsheet, categorizing things into sections like bills, food and entertainment to see where you can cut back. There are also apps like Mint or YNAB that will help you do this.
Mint, for instance, lets you link to your bank accounts, then categorizes spending habits, and gives updates that allow you to see a real-time how you are spending your money. YNAB (You Need A Budget) also links to your credit cards and bank accounts, taking a bit of a proactive approach by letting you know what money you have, and encouraging you to assign a “job” to every dollar in your account.