These discussions seem to be a frequent topic on CB and it's proof that personal financial problems are an epidemic. As someone who works in this arena, let me offer a few simple suggestions to help those of you that are in debt and want to change your financial destiny. Bottom Line: The math of getting out of debt is actually very simple, but the key ingredient for success is discipline. It's like sobriety, a daily victory is one step closer to your ultimate goal of a debt-free life. Stay the course!

Here's my crash course tips...

1. Go on a treasure hunt around the house to raise some quick cash - If it's not absolutely necessary and has value, turn it into cash immediately and pay down high interest debts and establish a cash emergency fund of at least $500. KSL.com is your friend. A little quick cash is the single best motivator to stay the course and keep you on the path to debt freedom. Most can find $1000 or more in a week by doing a treasure hunt. I've seen families find over $10,000.

2. Go on a spending fast - You have to stop digging before you can climb out of the hole. Nothing but necessities. Nothing! This fast will be temporary, but just like dieting, it gets easier the longer you do it. Cut up the credit cards and use cash for all discretionary spending. There is a reason they use plastic chips in casinos - real money is more emotional and you're more likely to spend less when you pay with cash.

3. Focus on cash flow - (Follow the 3 R's) Remove all unnecessary expenses, Replace any you can with lower cost services, and Restructure any that you can to lower monthly payments and free up cash flow. Then make sure you use all the cash flow savings to aggressively pay down the high interest debt.

4. Consolidate high interest debt into lower interest longer term loans - Balance transfers for credit cards work great if you have decent credit (720+) that will get you 15-21 months of zero interest. The key is to continue to make the same payment as before the transfer during the promo interest period so more of the payment is going to principal to eliminate the debt. If you have less than stellar credit, network with relatives for a win/win refinance (offer them 10% and make the payment to them) or check out upstart.com or lending club for crowd-funded consolidation loans.

5. If you have a mortgage consider a home equity line as a source of consolidation money. It's typically the lowest rate and the interest is potentially deductible, but if you have no equity or poor credit, it may not be an option.

6. Pull out the stops to increase your income - Ask your employer for a raise or promotion, increase the exemptions on your W4 to get an instant increase in your take-home pay (if you got a tax refund, you're having too much taken out of your check). Work an extra shift or take a weekend or evening job and apply 100% of the extra income to debts.

7. Downsize your housing - The biggest expense is where most can find the biggest savings. While the market is strong, sell your house and move into a smaller home with a lower payment. If you rent, move into a smaller apartment until you get back on top of your finances.

8. Downsize your transportation expenses - Cars lose money, always! Get rid of any extra vehicles. Downsize if you can. Pay cash and never finance or lease a vehicle as that compounds the cost of transportation.

9. Suspend all current retirement contributions until you're debt free except your mortgage - If you think earning zeros (2015 market returns) on your retirement account and paying 18-24% interest on a credit card balance is wise, you don't understand math. Your monthly contributions will get a better (guaranteed) return by applying them temporarily to your high interest debt. You may think you're getting ahead by making those 401k contributions, but it's a mirage. Once you're really debt-free, you'll have the extra discretionary cash flow to dramatically increase your retirement contributions and catch up quickly. It's a necessary temporary sacrifice.

10. Do an insurance audit - Shop for better rates (check out compare.com or answerfinancial.com) drop unnecessary coverage (if you own your car you don't have to have collision or comprehensive coverage), raise deductibles and lower policy limits. Consolidate policies with one carrier and set up semi annual billing to save money. Many of these things mean accepting more risk, and you need to make sure you understand that, but all of these suggestions will lower the cost of insurance.

There are no shortcuts and I've found that it's better to go cold turkey on these things than ease into it. In 30-60 days you'll realize you're finally on a different financial track and that will serve you well for the remainder of your life. Every day you wait is costing you money. Get started today. BM if you have specific questions. I love this stuff and would be happy to help any fellow CB'er.

Good luck!