Financial freedom is where you’re going if you take the time and effort to pay off those nasty credit cards. Your mindset and checkbook are going to go down the tubes if keep debt in your life.

Once you achieve financial abundance you’ll experience the inner peace and calm that comes with it. How many times have you been personally frustrated or been in an argument with a loved one over debt payments? All it takes is the decision that you don’t want to live like this anymore.

Your mindset is a key part to this. Living a debt-free life starts with deciding to do so. Once you’ve decided on the goal of financial abundance, you need to take it seriously. If you’re going to succeed at getting out of debt, you need to be able to withstand the pressure of your peers and advertising.

Develop a tough mindset that you’ll stick to your plan to save money and spend it wisely. Understand that the commercial trying to convince you that “you deserve it, so pull out your credit card and charge it” is just a sales pitch for your hard-earned cash. Where are those advertisers when you’re paying for that purchase years later?

Next, you better keep a budget. OK, you’re serious about this financial abundance stuff, now write it down in a budget. How can you keep more money than you make if you don’t have a detailed accounting of how much you must put out each month? You can’t!

Once you see your outgoing responsibilities laid out on paper, it can be an eye opener. Are there some areas where you’re over-spending? Can you cut back somewhere to add either to debt reduction or savings?

Be sure that you don’t overspend. This may seem a bit obvious, but if so, why are so many people doing it? Living within your means is one of the basic rules of personal finance.

After you have your budget, look at your income and make sure you make more than you put out. If you’re spending more than you make, can you see that there are some serious changes that need to be made?

Now the big decision: Can you cut back enough to get your bills under your income and still live an abundant life? If not, the only solution is to find more income. Can you get a raise at work? If not, you may need to find a way to earn more money part-time.

Once you get out of debt, cut up all your credit cards except for one or two that have low limits. Yes, you read right. Get rid of the plastic! It’s the only way to have a debt free life. If you don’t have $20,000 in credit limit, you can’t end up $20,000 in debt, right?

Keep a couple cards with maybe $1000-$2500 limit each for when you need a credit card (plane tickets, concert tickets, etc). However, remember to live within your means. Only use those cards to buy what you can afford to pay off as soon as that bill comes in the mail. If you follow these debt tips, you’ll get out of debt and be a whole lot happier.