Confession time: I’m carrying a credit card balance. While it’s not very high, it’s more than I have the funds to clear in a single payment, or even two. I’ve broken a cardinal rule of credit card holders, and throughout the next few months, I’m determined to correct the damage.

I’m not alone, however, in carrying a balance. Many people with credit card debt find the high interest rates make the debt feel insurmountable.

The average college student will graduate with $2700 of plastic debt and the average American family carries around an $8,000 balance on their cards! Luckily there’s lots of good advice available for all of us who are working on paying down their credit card balances.

First, stop using your credit cards. The further you dig yourself into debt, the harder it will be to climb out. (Note: If possible, still keep your credit card accounts open, as having long-standing, open lines of credit helps your credit score.  Just make a mental promise to not use the cards, and if cutting up the cards helps, then do it!)

Next, make sure you know the amount you owe on each card, as well as each of your interest rates. Once you understand your debt and have stopped adding to it, you have several options for repayment. Some people with a high debt or a debt spread across many cards may want to consult a credit counselor.

Make sure to choose one affiliated with a verified non-profit organization like the Association of Independent Consumer Credit Counseling Agencies or the National Foundation for Credit Counseling.  Do your research on the organization helping you out.  Unfortunately, there are far too many scam artists offering to help with debt consolidation. For a low fee, a counselor can help set up a debt management plan.

This means the counseling agency will help you to attain a lower interest rate and terminate late fees and over-the-limit charges. While this will not reduce your balance, lower interest rates will prevent the balance from skyrocketing. Many other people, however, would prefer to pay down their balance without any help from a counselor. For anyone managing their own debt, here are some steps you can take to repay the balance.

Ask your credit card companies to lower your rates. Some companies may be willing to negotiate a lower interest rate for loyal customers, especially if you inform them that you’re considering transferring your balance to another card. The company may hold firm, but it’s worth the phone call to try.

Transfer your balance. A zero percent balance transfer means that for a set term you will not have to pay any interest on your current balance. This will ease the pressure of paying back the debt immediately while it accumulates interest. Transfer your highest balance first, then your second highest and so on until all your interest rates have been lowered.

Develop your own payment plan. There are several very useful payment plans that financial specialists have thought up and given catchy and complementary names:

The Snowball Method. Order your credit card debts from the lowest balance to the highest. Set aside a reasonable amount of money for paying them. Pay the monthly minimums to all debts, plus whatever is left over to the smallest balance. This way, you’ll pay off your first debt quickly and find yourself motivated to continue. The disadvantage is that your highest balance may be costing you far more per month than your lowest one. While you’ll have the satisfaction of eliminating your smaller debts, the larger ones might grow unmanageable in the meantime.

The Avalanche Method. Order your credit card debts from the lowest interest rate to the highest. Set aside a reasonable amount of money for paying them. Pay the monthly minimums to all debts, plus whatever is left over to the one with the highest interest rate. This method eliminates your debts the fastest with the least amount of interest paid. Mathematically, this is the most efficient method, but psychologically, this might be more difficult to accomplish.

The Hybrid Method. Arrange your credit card debts in order of how much they irritate you from most annoying to least. Pay down the most annoying first. This way, you’ll be motivated to stay diligent about repayment. Ordering your debts from most emotionally straining to least and paying off the most stressful first is also a way to ensure that you’ll eliminate your balances. By personalizing your approach, you’ll feel more in control of your debt.

The Snowflake Method. In conjunction with one of the other payment methods above, start contributing small amounts of money to paying your credit card debt each time you make a smart financial decision. Money earned from yard sales and odd jobs in the neighborhood or saved by eating leftovers can all go towards your debts. Trent at The Simple Dollar has a great list of low commitment ways to make small payments to your debt, chipping away hundreds each month.

Keep track of your spending. You’ll hear this advice everywhere, but it bears repeating. A Thrive account helps you do just that, and you can also simply write down your purchases daily. Identifying what you spend money on and what you can easily live without or substitute for a cheaper alternative is invaluable. The money you’ll save can help you to repay your credit card debts. Being responsible for your credit card balances is a lot of work. It requires diligence, commitment, and a willingness to face some very stressful realities. Finding a payment plan that works for you and sticking to it is key not only to overcoming your debts, but also to surmounting the worry and strain that comes with debt. As someone who has experienced anxiety over finances, I can attest, taking control of your debt improves not only your financial health, but your mental health, as well.