If you are in the United States, I invite you to annually check in for a free credit report through https://www.annualcreditreport.com.

Note that this is a free service from the three major credit reporting bureaus. You may receive a copy of your credit report every 12 months--- use this service and not the many fake, paid versions.

Keep note of the kinds of debt you are holding. "Good" debt is considered something like a student loan, that has a relatively low interest rate and pays off in additional opportunities once you exit college or graduate school. "Bad" debt is considered credit cards.

Knowing that many of us use credit card debt to finance the startup of our businesses, it is important to come up with a plan on how to develop positive cash flow and make your business profitable. Many small businesses fail in the first 2 years with cash coming in the door (cash flow), but with daily bills outspending daily income. You must plan for success, get as much help as possible (financial advisor, tax preparer, accountant), and educate yourself on your options.

If you must, find a full-time or part-time job, or find additional income streams to reduce your debt load (in the past I have carried $39,500+ in credit card debt and student loans --- I don't recommend this).

Today, the burden of bad debt is literally enslaving many of us. We must understand that these are just numbers. Take an honest look at your situation and list out:

1) Credit card issuer

2) Monthly payment per card

3) Current Interest rate for that card

4) Your account number

5) Phone number for the credit card issuer

Keep track of these at all times --- If you find that you are going to miss a payment or you cannot make payments, call up your credit card company and find out what you can do. In your repayment plan, focus on paying off your highest interest-rate obligations first.

So many of us go into debt to splurge on feelings --- I've found when we are able to re-focus and take the time to value our relationships, our health, our spirituality and physical well-being, we need less and less "items" to make us feel better.

Here are some more tips. If you like free advice, here it is.

11) Sleep.

1) Educate yourself.