Total up your debt. Go ahead and face the music. You need to open all those unopened bills. Make a list of all your debt, big and small.

Pay with cash only. While debit cards are OK to use once you get in control they can still allow you to spend more than you should but at least it is not like a credit card.

Talk to your creditors. do not ignore them, they will not ignore you. If you keep in contact with them, they will be more willing to work out a plan with you. If the first person you speak with is unwilling, then ask to speak to their supervisor and just keep going until they are willing to work with you. Be honest and pleasant, no one wants to help you if you are nasty.

Create a Plan - which debt to pay first, You must pay everyone something every month even if it is only a rupee, but you need to have one debt that you are going to get rid of first. Target the one with the highest interest rate. Also, call them and ask them to reduce your interest rate - many times they will do this, just because you asked, Review your finances thoroughly, crunch the numbers, and see which method would be the most effective for your situation.

Save for a rainy day. Try to put away 10% of what you make into savings. If you can not do that then put away whatever you can. Even if it is 50 cents. Make this your first bill that you pay. Because you are the most important thing for you to take care of. Then learn how to make your money work for you. If you want to play in the stock market make sure you can afford to lose the money. Learn as much about the stock market as possible and start small. do not dump your last 5,000 in to stock that you know nothing about because tomorrow it could be gone.

do not ever think that you are alone in this. So many people are trying to get back on their feet. Yes it is hard to give up a lot of the things that in the past have made you happy. Doing all the things above, as hard as it is, will help you in the long run.