Tackling debt is an issue a lot of households deal with on a daily basis, and because it’s so prevalent you might think some expert out there has figured out the secret formula. But the sad truth is that there is no such thing, and you can’t expect something that works for your neighbors, friends, or family members to work for you too.

However, there are certain strategies that you can try out, depending on how they fit your current situation. Some of these can be used in tandem whereas others might work on their own. Before we get to that you first need to look at the bigger picture.

What does your current financial situation look like? Whip out a pen and paper or boot up a spreadsheet and start crunching the numbers. What’s your income and what are your expenses?

From there you can figure out the first, most important steps you need to take in order to get rid of debt. Can you start budgeting in order to cover your payments and then some? Or do you need to take on additional work by freelancing or coming up with a gig? You can either go one or two ways and nobody but you can determine which approach fits your lifestyle better.

Now that that’s out of the way, you can start a strategic approach for tackling debt!