It's called "debt" because all of the other four letter words were taken. Everyone at one time or another is going to be using this four letter word quite often in their vocabulary. Credit cards, no cash down financing and adjustable-rate mortgages makes getting what you want easier than ever. However, keeping what you want by being able to pay for it is what gets most of us into trouble. You are in good company looking for debt management help.

Write Down All Of Your Expenses

The first step in proactive debt management help is in knowing where the money all went. You need to keep track of your expenses. It might be daunting to keep track of one month's expenses, so try for one week. Write down everything you spend money on from food, public transportation, bills, lottery tickets, anything. In this way, you might be able to see what you can immediately stop wasting money on.

Have Only One Credit Card

You should have only one credit card per person in your household. If you have a home business, then you might allow yourself one credit card just for business expenses and one for personal expenses. In this way, you cut out the sky-high interest rates that will keep you in debt for several lifetimes. If you owe more than three figures to one credit card, then you need professional debt management help.

Spend Less Than You Earn

This piece of debt management help is, of course, easier said than done. But it is actually easier the more you practice good spending habits and not buying what you do not need. In tracking your expenses, you can get a good picture of how to change the course of where your money is flowing. You will need a lot of willpower, but it gets easier the more you practice self-restraint.

Take a total inventory of what is in your house. Are there clothes in your closet you've never worn? Are there computer games you've never taken out of the wrapper yet? In these examples, consider yourself banned from buying more clothes or video games for one year. Consider going to the library instead of the bookstore.

Also, keep track of your bank's little extra fees. Many banks will charge you up to $3.00 (US) just to use an ATM card. You need to plug up those money leaks. Check all of your utility bills for little charges like that. Perhaps you are paying for a service you hardly ever use get rid of it. Every little bit of debt management helps.