One of the world’s most staggering personal finance issues is crippling debt. The debt that hangs over the heads of people around the world is so mentally and emotionally harmful that the people affected have a hard time simply living life. These people can be our neighbours, coworkers, or even family members. The quickest way to get yourself back on the right path is to stop spending. In “Oprah’s Debt Diet”, the Bradleys have terrible spending issues. They constantly spend without managing or thinking about the consequences, which lead them into massive amounts of debt. Some things you can do to stop or avoid bad spending habits are: don’t carry credit cards in your purse, don’t run up bills you can’t pay in full at the end of the month, don’t be enticed to open new credit cards at retail stores just to get the discounts, use the envelope system and spend only cash allocated in advance, and choose an accountability partner help you stay the course.Creating a monthly spending plan and tracking spending is a great way to stay on top of your finances. A new spending plan should be developed for each month. To free up as much money as possible for debt repayment, create a bare-minimum spending plan using Glinda Bridgforth’s spending plan worksheet. This exercise will show you the minimum amount of money you need to get by during a given month. A few of her tips were to take a look at your calendar and note any special events that may cost money and to calculate your cash flow.  In “Oprah’s Debt Diet”, the Widlunds used this method to track their expenses and make sure their money was going towards the essentials so that extra money could go towards paying off their debt.In order to stay financially stable and stay out of credit card debt you must learn the credit card game. there are many, many “games” that the credit card companies play that can affect you financially. All of these “games” are legal, which is why it’s so important to know the rules of the game. Like it or not, if you have credit cards right now—you’re in the game. The Egglestons from “Oprah’s Debt Diet” were greatly affected by the credit card game. They were in incredible credit card debt because of big late fees and the credit card companies taking advantage of them. They started to learn the game and call the companies for better rates. They slowly paid off 9 of their credit cards. A big part of reducing your debt is bribing in more income.  There are a few ways to do so. You can consider whether the big-ticket items in your life (your home, your cars) are truly necessary. You can go through everything you own and see if there’s anything of value to sell. You can earn more money, either on your current job or by taking on a second one. With the extra money you make you can keep some for savings or paying down debt and invest the rest. The Bradleys in “Oprah’s Debt Diet” did just that. They sold two of their cars and got rid of unnecessary furniture and appliances in their house. They took their leftover money and invested it. With that money invested, they can make up to 1.5 million dollars in invested money.  In the end, there are many ways to avoid or get rid of debt. Whether it’s as simple as making a monthly spending plan or as extreme as selling your home there is always a way. With the right tools and management, debt doesn’t have to follow you forever. Check out your options, read the fine print and know that help is available.Young people are faced with a number of challenges when it comes to finances. Creditors try to lure college students with credit card offers that put them in debt at a young age, and some young people don’t take the time to learn how to manage money as teenagers or young adults. Some major tips in avoiding or managing debt are to save early and often, and to build up credit by making payments on time.

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