Debt is a necessary evil.
Most Americans have to face it at some point in their lives. The 1.354 million personal bankruptcies declared in 1999 set an all-time record. Yet there seems to be no end to credit applications filling American mailboxes. Clearly, digging yourself out of a debt hole has to be a priority if you want to move toward a healthy fiscal life. Cutting unnecessary expenses is an obvious first step, but there are many other ways to reduce debt.