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Between the mortgage, student loans and credit cards, paying off debt can feel impossible. However, there are some smart ways to reduce and avoid debt or even getting into debt at all. In this issue of my Monthly Item of Value get some helpful tips on paying down your debt.

First, you need to stop getting new debt right away. The last thing you want is to add anything else. Avoid buying things you really do not need.

Secondly, create a workable budget, one you can live with and will allow you to start paying down the debt you have accumulated.

There are a couple different ways to deal with your debt, the Rollover Formula and the Snowball Method. Get details about the two methods in the infographic below.

Try these smart ways to reduce down your debt. Don’t delay...