The first step in reducing credit card debt (after you acknowledge you have it), is finding money to pay it all back. Most people with very high balances will not be able pay off their credit card balances within one billing cycle. If you're one of those people who plan on being with your credit card balances for a while, then you'll need to pay these cards back with bigger payments than the minimum payment they ask for. So it will take some money to do it.

So where do you get the money to pay off your credit card debt? Well, you may have to work another job to tackle those balances. However, you may want to look into developing a budget first. You may find that you do have more money to pay the credit card companies back.

While not enough money to make you retire. But you may find the extra money you need so you can focus on paying your credit cards off effectively. Believe it or not many people can't get their head wrapped around making a budget for themselves. It's actually not that bad to develop. I actually use a spreadsheet.

Now remember, when it comes to developing a budget it comes down to knowing what you make and what you pay. Therefore, the first thing you should do is get all of your bills together and make a list of them. Basically you want to list the bill and the amount. Then you want to include daily expenses.

I also mentioned above daily expenses, this should include what you spend on when you go out to eat, Friday night expenses, coffee or new papers. Believe it or not this is where you find out you spend a lot of money on.

Your budget should also include about 8-10% of unexpected expenses. For example, if your car breaks down, that's an unexpected expense. That money should be saved each month.

When you go through all your expenses, the goal is to make sure you can visualize all your payouts for each month. Who knows, you may find some things that you don't want to pay for any more.

Once you develop your budget you'll be able to make rational and well informed decisions, as mentioned above. Then you can plan how much you are going to pay the credit card company's each and every month. Even if you are not a numbers person, you can still develop a simple budget to reduce your credit card debt quickly. You may be surprised at what you can get done.

You may also find after you develop a budget that you may need more help, such as hiring a company to help you pay off your credit cards. While this may not be the most desirable option, it may be a great way to reduce your debt greatly. But it also requires a change in behavior as well so make sure you make the right moves in reducing your credit card debt.