I'm working on paying off the last $5K of about $18K in credit card debt. It has taken us about a year now that we finally have it right, after many failed attempts in the past. We've used a variation of the Dave Ramsey method

1. Establish a small emergency savings account so that you can stop using credit cards. In my case, it was $1K, which covers unexpected car repairs, medical bills, etc. that come up. Any money taken out of this account gets paid back as a first priority (before any extra debt payments are made).

2. Go through the monthly bills and cut everything that isn't necessary. Consider eliminating or reducing cable, cell phones, and any services you don't really need or use.

3. Figure out how much is left for everything else. Set aside some to pay down debt and to continue to build emergency savings. The rest is withdrawn from the ATM on payday and put into envelopes in pre-determined amounts for groceries, gas, etc. Once the money in the envelopes is gone, it is gone. No using credit cards to supplement. This helps us separate needs and wants. DD might need a new pair of shoes, but if there is no money in our "shopping" envelope she has to wait until next payday.

4. Use the money you've set aside to pay down debt to pay off credit cards, the highest interest rate first. Any unexpected money goes towards debt immediately (assuming your small emergency savings is fully funded).

Once the last 5K is paid off, I plan to focus on paying off our one car that isn't paid off yet and then working on 3-6 months of emergency savings.

Take the card out of your wallet so you don't use it. Put every extra money (tax return, bonuses, gifts) on the credit card immediately so your not tempted to buy anything else. Look at services you can cut like PP mentioned. Going without cable for awhile can save a lot. Sell things on eBay or Craigslist and put all the money you earn to the card. Pick one month to go on a spending diet and put a little towards the card every week of that month.

Take a very close look at what you spent on different categories in the previous two or three months. That will tell you where to focus. For example, I found out we spent a heck of a lot more on food than I thought.

Wait till the kids are in public. We put everything on hold

I am in the same boat, OP....down to the partially paid maternity leave.

Don't go on vacations until you are out of debt. Can your family visit you? Cut down on kids activities. Don't eat out. Meal plan everything. Don't drink alcohol. Don't buy junk food. Only buy clothes if needed because your children have grown. Watch movies at home. Play card games with the kids. Look for lots of free stuff to do. Cut back on gift giving. Every penny you spend you need to really think about it until you are out of debt. Only you can close the flood gates on the outflow of cash/credit from your wallet. You need to think about every purchase until you have a new way of thinking about money. Good luck! It can be done. It is hard in the age when we are hit with marketing 24/7!

Some of the recent stuff I did:

Pay off cars: $750
Cut cable: $150
No lawn service: $250
Turn down thermostat: $50
No maid: $200
Reduce nights out: $400 a month
Kids dinners only via groupon / living social
Reduce internet speed a bit: $30
Get rid of personal cell (just use work, which is approved): $150

Along with Dave Ramsey, I'm a fan on YNAB for budgeting and tracking expenses. It's totally doable and once you start to see progress and balances going down, it gets addictive. Good luck!

Second vote for Dave Ramsey. Get yourself on a budget and stick to it. You might find you are spending money on things you can live without and put that money toward your debt. Good luck!

Www.daveramsey.com

Looking for advice (no finger wagging please) from parents who have found themselves in the same boat. Have you found a good way to go about cutting costs and paying down debt outside of refinancing your home or borrowing from your 401K? My salary isn't getting much bigger anytime soon and I'd be fine with making incremental progress. What worked for you?

I have a lot of credit card debt. Some of it was vacations including basics during partly unpaid maternity leaves, flights home, big home repairs, everything from school uniforms to summer camps to groceries. Now when I pay my share of the household bills plus the card payments there is virtually nothing left at the end of the month.