Here are three steps that could help you cut down your debt

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The three-step process that could help you cut down your debt. (KTRK)

Tackling your debt can be tough to do.

But there's a three-step process that could help you get back on the right track.

The first step to financial freedom begins with a spending plan.

"It's just really taking a look at where your money is going, to identify where it's going out the door. You can eliminate where it's going, and 'I don't want to spend that much' on whatever it is or 'I don't use that anymore,'" said Jillian Nel, director of financial planning at Legacy Asset Management.

Apps like Wally and Mint can help you track your money in an organized manner. A simple Excel spreadsheet can get the job done, too.

The second step is figuring out which debts you need to pay off first.

"There are some schools of thought to pay the higher interest first, but that takes a lot of time to do. I feel sometimes it's almost better to knock out the smaller ones," said Nel.

If you're still feeling overwhelmed, it may be time to get professional help.

"You want a non-profit agency. You want an agency that offers a variety of services like free education. More than credit counseling they try to educate the public. They do a lot of stuff for free," explained Nel.

Head here if you need help finding a reputable credit counseling agency.
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