If there's one thing we can learn from the current economic state of affairs, it's that we all could use a little help with managing our debt. Many people have built their lives on debt and it has become an acceptable way of life for them. However, they got in over their heads in debt and now the debt has spiraled out of control.

Some people were naive to the idea of adjustable rate mortgages and now have house payments that have doubled. Then there are other people who felt the need to keep up with the Jones' and simply just started living way beyond their means.

If this sounds like you, here's my advice: Get help. Invest in yourself for once! For the sake of your mental health and your financial future, it's time to come up with a plan to get out of debt. Turn off the stock market news and start focusing on ways to turn your debt into wealth.

What are ways that you can increase your income?

How can you reduce your spending?

Are there psychological issues that caused the debt that need to be addressed?

I recommend moneysupermarket.com as a resource for debt advice. UK residents can compare debt management services and consultants. There is also a guide for dealing with debt problems and other articles to help you manage your debt. You can also find links to non-profit organizations that offer help and support.

Do you have any debt advice to share?

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