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Whether you’ve taken out huge student loans, gotten carried away with credit card usage or experienced a health issue that has set you back financially, determining how to manage debt will be important for your financial future. Here are a few tips for gaining control over your personal finances.

1. Examine your spending habits. Debt accumulation may be due to inability to resist a shopping impulse or unwillingness to say no when invited to social gatherings in restaurants and bars. Determine if aspects of your spending can be reduced.

2. Reduce debt by decreasing excessive spending. A daily visit to a coffee shop can be replaced by making coffee at home. Buying food and household supplies in bulk can help save money. Cooking at home is cheaper than dining in expensive restaurants. Make a list of ways to cut back.

3. Pay more than the minimum payment. When you make only a minimum credit card payment, you are primarily paying interest. Increase monthly payments to pay off the principal as much as possible.

4. Negotiate with credit card companies. Speak to debtors about lowering your interest rate. The less money you pay in interest, the more will be allocated to paying off your principal. Debtors will sometimes make allowances for this, particularly if you have been making payments on time and have been a longtime client.

5. Consolidate or refinance loans. Look into consolidation options at lower interest rates. Student loans often offer this option. Be careful, however, not to transfer student loan balances to low interest credit card offers unless the interest rate is locked in.