Money may not buy happiness, but it can buy freedom, flexibility and independence.

As soon as most people get jobs, or even before, they get a credit card. Instead of saving and investing, they buy stuff-usually stuff that doesn’t last as long as the payments on it. If they manage to contribute to a 401(k), they either borrow from it or cash it out when they change jobs. As their homes increase in value, they take out home-equity loans, offsetting most or all of the potential rise in their wealth with more debt. It’s hard to spend less money, regardless of how much you make.

But the Internet is full of great ideas for saving money-and moral support-for those trying to live within their means. If you’re ready to tackle your own debt pile, here’s the plan: Get intimate with your debt. You should know everything relevant: your balances on every account, the interest rates you’re paying, whether that interest is deductible, when and how those rates can change and whether you’ll face any kind of penalties for paying an account early. Call your lender if you’re not sure. Write it all down. Prioritize your debt. Rank your debts from highest interest rate to lowest.

Eradicate your debt. You can start with your highest-rate, non-deductible debt, if yo u need the sense of satisfaction from wiping out a bill as soon as possible. Either way, put as much money as possible toward your first debt-eradication target. Once that account is paid off, take the same amount of money and apply it to your next target.

Keep doing this until all your nondeductible debt is gone.

For more information to help you gain a better handle on your credit situation, visit money.msn.com.