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Getting out of debt is many times the New Year’s Resolution that many people set for themselves since they are eager to get out of the debt and stop the harassing phone calls and letters that they may be receiving. However, a common problem is that those that are in debt rarely know how they should begin the process of getting out of debt. As with most things, being in debt may seem as if it is more of an addiction to spending than anything else, which is why there is a twelve step program that can help anyone get out of debt.

1. The first step is to admit that you do indeed have a problem with debt. This is a major step that most people do not think really makes a difference. However, if you admit to yourself that you have this debt problem and the reason why, whether it be not paying bills on time or just spending money that you don't have, then you are going to feel more in control of the situation.

2. Your second step after admitting the problem is to set a time every week that you will devote to your finances for around half an hour or so. During this time, you should have all of your bills collected and ready to go over, so that you can check your own progress. The important thing here is to make sure that you keep these weekly appointments with yourself so that you can see that you are making a difference in your debt over time.

3. The third step is to start a 30 day trial period in which you should cut back your spending. The goal is to see how much money you can save without feeling as if you are sacrificing your way of life. You will want to cut out the nonessential times and then go from there. The goal is to save money in order to make more payments on those debts that you are having. After 30 days in your financial appointment, see how well this worked for you and adjust if necessary.

4. Your fourth step is to set up a savings account. This may not seem like the time to begin saving when you have debt to pay, however, it will be your nest egg should some unexpected expense come up and you need to pay it while still paying down your debt. You should start small, such as $500 and then increase it slightly once you reach your initial goal.

5. Your fifth step is to make the list of all the debts you have and what the amounts are. Your goal with this step is to see how much you are paying and how much it will take for you to get out of debt.

6. The sixth step works right along with the fifth step, during this time you are going to want to make a budget. You need to account for the debt and other expenses, then the job is to stick to it.

7. This is basically the step that you are going to make sure that you are controlling your spending as good as you can. You will want to make sure that debts are getting paid and other items are also getting paid.

8. Pay your bills on time in order to make sure that you are not incurring the dreaded late fees and so forth that can put you into even more debt.

9. Start making more progress on your smaller debt that you owe. Find ways in which you can pay more than the minimum on the small debt in order to get it out of the way.

10. Once you have eliminated the smaller debts, then start working towards the bigger debts in order to get rid of them faster.

11. You should take the time to review all your debts and the first ten steps during this time so that you can be sure that things are getting paid and you are working towards your goal.

12. Repeat, repeat and repeat. In order to get out of debt you may feel like you go through this process hundreds of times, however, it will help you to make sure that everything is in order and things are getting paid.

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