At the first sign of the word debt they all took unique corrective actions to either completely clean their debt slates or earn extra income to repay their debt. You too can get out of debt if you have the determination and the will to do it.

Debt is a problem that starts with 'I had a crazy day at the mall!' and grows in severity till it assumes troubling proportions. Nevertheless, there are ways to break out of the 'curse of debt'; all it requires is to be more systematic in your expense patterns.

First stem the rot!

Stick to a basic ground rule of cash affordability. If the money in your pocket cannot buy it, the product/service isn't meant for you. Says Arjun: "After I discovered I was neck-deep in debt, I used to just carry some cash in my pockets on weekends, no matter where I was going.

This way, there was no possibility of over-spending since I did not carry my credit card. I also considered applying for a debit card at that time."

This way not only did Arjun save a good amount but within six months he was able to clear all his debt.

In all circumstances, stay a mile away from any 'bad debt'. Bad debt may involve unsettled credit card bills or bills that are not entirely settled at the end of every month. What will hurt you more than the expenditure is the interest amount accrued over months that might end up as far larger than your actual spending!

Good debt is an option in case you suffer from a minor debt problem but have a secure financial history. This includes property investments, business investments and investments in mutual funds.

Borrow for things that are almost certain to increase in value. Something like a vehicle loan might be a good idea if you need to own your personal mode of transport. In such cases, choose the most inexpensive among options as vehicles are among the fastest depreciating items on the list.