What Is A Good Plan For Paying Down Debt?

First, track all of your current expenses for several months using Quicken or Microsoft Money.  Then, look for places where you can cut without greatly impacting your quality of life.  Such things as dining out, movies, expensive cell plans, premium TV channels and expensive grocery store foods could be on the list of things to cut.  Use those funds to pay down your most expensive debt first (such as credit cards).  Then, pay down other debt, such as car loans.  Finally, work on chipping away at the mortgage, if you have one.