How do you get your spending under control?
What can you do about your debts?

You should keep two basic facts in mind:

1. You are "in debt" because you spent more than you earned.
2. You can pay off your debts only by spending less than you earn and paying back what you borrowed or owe.

There are no quick solutions

Whatever the cause — medical, emergency, job loss, separation or divorce, gambling, free spending, or anything else — You must pay off your debts or accept bankruptcy.

First, ask for outside help. Second, take time to analyze exactly where you now stand financially.

You can do this by assembling two simple and time-tested tools:

• A personal balance sheet, and
• A spending plan.

Doing this simple exercise will reveal facts about your family’s financial habits and current financial situation. You may be surprised and maybe even scared. But it gives you a starting point.