How to overcome credit card debt

Money worries can have serious health consequences. In a Rutgers University telephone survey, half of respondents admitted to having stress about money, 23 percent said their anxiety was severe, and 12 percent called it overwhelming. The damage? Survey-takers said financial stress contributed to high blood pressure, depression, insomnia, headaches, digestion troubles, aches and pains, ulcers, excessive smoking and drinking and gaining or losing weight. Here are some easy ways to lower your stress and take charge of your finances.

But let's be honest: It's not easy. Getting yourself out of debt is analogous to losing large amounts of weight: It takes time, the process can be hard on your ego and your lifestyle, you must be constantly vigilant and it is easy to revert back to old habits. But for those who succeed — and many people do — the results are stunning.

• You are going to feel more in control of your life with less stress and fewer worries.
• You'll be able to sleep better, stop overeating and have fewer headaches.
• Finding ways to curb your spending and focus on the simple joys in life will help improve your relationships.

• Learn about money management.
• You can't master your money if you don't understand the rules and methods of personal finance.
• Find a book, magazine, or Web site that speaks to your level of understanding and learn all you can about credit cards, mortgages, electronic banking, budgeting and investing.

• Calculate much money is coming in each month.
• Calculate how much are you spending on essentials, and how much are you spending on frivolous purchases and entertainment.
• An hour of honest assessment of your spending habits can go a long way toward showing you a better path.

• Put your credit cards in a cup, add water, and place it in the back of the freezer so you can't use them.
• It's just one clever way to get you to immediately stop increasing your debt by allowing you to think about your purchases.

• Banish shopping as a form of entertainment.
• Go for a walk, take up a hobby, meet with friends or try a craft project.
• Identify the things you want to spend on in the future — vacations, a retirement home, a new car — and start savings programs for each.

• Today you can have paychecks deposited directly into your accounts, small amounts automatically diverted to savings accounts, and bills paid automatically from your accounts.
• The more you can use technology to improve your money management, the better.
• Pay at least the minimum amount due each month on all your bills.
• And pay more than the minimum payment on your highest-interest credit card.
• After you've paid off your highest-interest card, move to the next.