Minimize Your Interest Rates : One of the fastest ways to track your way out of debt is to reduce the interest rates on your debt. Many people have interest rates as high as 30%, when they pay their monthly minimum. Minimizing the interest rates not only makes the loan affordable, but it also helps you avoid problems like foreclosures, bankruptcy or lowered credit scores. If you can negotiate with your creditors well, your high interest rates can be easily brought down.
Check out for any interest rate changes on a loan, credit card or investment. Keep track of your payment dates so you do not default on the loans and end up paying penalties.