I'm not upfront with my spouse about all of the spending I do, and this has put us into debt. How can I start to get us out of the hole?

To start digging your way out of debt, you've got to come to terms with how deep you are and to be honest with your spouse about these secret purchases. (We know this isn't easy, but you need to confront the issue and deal with the consequences.) Do you know how much debt you have and how much your habit is costing you each month? If not, pull out your bills and add up your balances and interest rates so you can look at a concrete figure. Then start finding extra money -- by either reining in your spending or working a few extra hours -- so you can begin to pay that figure down. Even an amount as small as $10 a day can really make a dent in your debt.

The key is to pay more than your minimum payment each month. So start throwing that extra money toward the debt with the highest interest rates, while still making all of your other payments on time each month. As you pay off each debt, you'll free up money that can be put toward those that remain...until eventually, you're debt-free. Sweet!

>> More Money Q&A with Jean Chatzky

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Jean Chatzky is a money coach and the financial editor for the Today Show. She is the the author of of five books including the upcoming Make Money Not Excuses: Wake Up, Take Charge and Overcome Your Financial Fears Forever.
>> Buy it now
>> Check out her website, JeanChatzky.com

-- The Nest Editors

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