Prior to the 1970s, when banks started handing out credit cards, unsolicited, like candy, the average household had very little debt. Besides a mortgage and possibly a car loan, most families lived within their means. This meant saving up for luxuries. Retail department stores offered what were then called 'charge cards' to encourage consumer spending.

However, most people looked askance at having this charge card build up to an unmanageable level. They charged a pair of shoes or a coat, then paid it off at the end of the month. Otherwise, interest was incurred, an unpopular concept back then. Oh, baby, how times have changed!

Today, the average family carries about $9,000 of debt on credit cards alone. The mortgage and car payments not included! Somewhere, way back in time, I recall that there was a law that stipulated the maximum usury rate to be 18%. I don't recall how or when that law was superseded, but the banks managed somewhere along the line.

Besides the APR, you have late fees and 'courtesy overdraft' fees that make the APR pale in comparison. As a society, almost all of us got acclimated to this new world of instant gratification, to our financial detriment. Now, debt reduction is the name of the game for just about everyone.

The problem is how to manage and tame the elephant in the room – debt reduction programs! Here are some debt solution ideas on where to begin, formulating a plan, getting help and getting out of debt. The current economic situation is forcing our collective hands now. Perhaps it's time to return to the conservative money management of the past.

It used to be a fairly common practice for the family financial manager to put plain old cash in a number of envelopes on a weekly basis, set aside as soon as the paycheck came in. These envelopes were treated like Fort Knox. Untouchable, unbreachable. When the bills came due, the money was there.

While you may want to keep your money in the bank, applying the same principle to a strict budget is one debt solution that at least allows you to meet your monthly obligations. Debt reduction companies are another story. If you can only pay the minimum payment on your credit cards, you might well spend 30 years paying off the debt.

Debt consolidation is one solution to effective, meaningful debt reduction. When you use the debt reduction services counseling services of a professional debt consolidation counselor, they have the connections to renegotiate these monstrous APRs, are often able to get late fees waived and otherwise effect debt reduction that gives you hope and a manageable monthly payment that can get you out of debt in just a few years.

An effective debt reduction program does require that you have a great deal of discipline. Remember how you got into this spot in the first place. Living beyond your means. This is not said in a blaming tone, we all were encouraged by lenders and then trapped by legislation that gave us no notice of how overwhelming the situation could become. Now that you're left holding the bag, you just need to put your individual foot down and determine that, although you were led down the primrose path, it's time for a reality check. One that works to your benefit!

If you choose to go with a debt consolidation professional, ask them about other avenues that might be open to you. Do you qualify for a debt relief grant or government-backed loan that might improve your position? There's no question that credit problems can make you lose sleep and even affect your health, over the long term.

A well planned and executed debt reduction plan can get you out of debt in less than a lifetime! Free yourself from debt worries. Forget about credit card applications! Use every legitimate resource, be disciplined and regain those elusive z's for good. Debt reduction is a very good endeavor!