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In recent times, debt and instant credit has become a part of our lives. The convenience of instant credit, however, has its disadvantages. Most of us use our credit cards and spend more than what we can earn and the resultant is the burden of debts. To manage debts, we need to be disciplined in life and take a few efficient steps which can eventually make us debt free.

The steps are -

• Keep a track on your spending. Write down all your expenses. Check out where you can cut down. This will help you to manage debt considerably.
• Make a budget and try to follow it strictly. This will help you to regain a sense of control over your finances.
• Start saving money as much as possible. Make a habit to save a particular amount every month from your income.
• Try to get a low cost credit card and transfer all your debts to this card. This will save you from high interest rates. 
• If you’re going for shopping, use only cash. The thing about using cash is it feels you’re spending more so you end up spend less.
• Ask for your credit report every month and check out your credit score. The report will also help you to make timely repayment of bills.
• Try to consolidate your debts. This will help you as you’ll only have to pay a one-time reduced payment every month.
• Contact your creditors and ask them for a lower interest rates. Most of the creditors will agree since they don’t want their customers to file bankruptcy.
• If your expenses are surpassing your income and you’re missing your payments, then you can take help of a credit counseling company. They’ll help you from giving you free counseling sessions to negotiating with the creditors on your behalf.

Debts, as we all know, dont take time to accumulate but is difficult to get rid off. But if you follow these 9 steps, you can certainly be able to only manage debts but also be debt-free.