The best way is to stop borrowing money and cut up the credit cards. Then start paying your creditors wihout incurring more debt. If you are reluctant to cut up the credit cards, then freeze them in a block of ice using something like a small Tupperware container to put the water in for freezing. Fill it half full and let that freeze for about 2-3 hours. Then put the credit card on top, fill it to the top with water and let if freeze solid.
Now, if you really want to buy that thing you *JUST GOTTA HAVE RIGHT NOW! IMMEDIATELY!" chances are good that by the time you thaw out that credit card, you will have changed your mind.
Note that using debit cards are fine, as for many if you don't have the money in the account that card is tied to, then it won't work anyway.
Assuming you are asking about credit card debt. Also assuming that the goal is to get out of credit card debt completely, not just lower the debt. If so, there are a couple of ways to go about it.
- If you have more than one credit card, pay the minimum amount on the lower interest rate cards. Pay as much as you can (not just the minimum) on the highest interest rate card until that card is paid off. Then attack the next highest interest rate card in the same way. You should be able to pay even more on the next card each month because you don't have a balance on the first card any more. Don't use your credit cards at all unless for emergency. Pay for everything you would normally charge with cash. If you don't have the cash, you can't afford whar you want to buy.
- Same as #1, except pay as much extra as you can on the card with the lowest balance first. When that card is paid off, then attack the next lowest balance card. Pay cash for everything until your credit cards are all paid off.
When all your cards are paid off, then only use the credit cards when you have to, and, never charge more than you can pay off in full at the end of the statement cycle.