Pay more than the required payment (make extra payments in the manner your lenders prescribe ? so you don't lose out because of computer errors, etc.) ? focus on your highest rate debt first. Bi-weekly payments are an excellent means to pay extra principal almost painlessly ? if your paydays are weekly or bi-weekly, and if there are no fees involved, and if you deal with a reputable money handler. A person who pays ? of the required monthly payment bi-weekly makes the equivalent of 13.051 payments in an average year. The person who does so, pays the loan off early, and pays significantly less interest ? especially on a mortgage loan (a person who pays a ? payment bi-weekly can reduce a 30 year mortgage by more than 7 years, and save many thousands of dollars in interest). If you wish to match the bi-weekly advantage, but still make monthly payments, multiply your required monthly payment by 13.05 and divide by 12. Pay that amount each month. Highest rate debt first. If you have several debts, pay as much as you can on you highest rate debt and the minimum required payments on your other debts. As you pay off one debt, add the amount you were paying toward it to your next highest rate debt, and so on. Often times, this technique is much more effective and efficient than refinancing ? even at a lower rate. If you receive a pay raise or a bonus, apply most of it towards any debt that you have. You already know that you can live without the extra money. Put it to good use and draw down some debt. If you have the opportunity to work some overtime, use that money to help pay off your debt. Consider taking a second job to earn some money to help pay off your credit card debt. Clean out your closets and have a yard sale or sell on eBay. Take the profit and pay off that debt. Cut every corner that you can. Make your lunch at home and bring it with you to work. Skip the coffee, soda or candy bar that you normally have every day. Throw your change in a jar at the end of the day. Every month put the money in the bank and use it help pay off your debt. Go an extra week or two without that haircut. Don?t go out to the movies (or at least cut back). Cancel your cable subscriptions. If you have a home phone and a cell phone, get rid of one (I cancelled my home phone years ago). Look around. I am sure you can find ways to cut back and save an extra hundred or two hundred dollars each and every month. Use this to pay down that debt and get out of the hole.