Half of all Americans would rather fess up to their weight than reveal their credit card balance. The amount of debt we're carrying is up 400% in the last 18 years, adjusted for inflation. Credit cards are most often used for lifestyle means. There's nothing wrong with using money to have fun, but you need to be able to pay for the fun.

If you carry credit card debt, Clark wants you to list all your balances and list the interest rates. You'd be amazed at how many people don't know this basic info about their debts. The first step to being healed is to know the problem and attack it. Next, you've got to stop using your credit cards.

When you're readying a plan of attack, there are 2 different philosophies on paying off credit cards. Clark says either is just fine, though he's biased toward the latter.

You can throw most of your money at the smallest balance, while paying minimums on all others. That way you begin to eliminate debts and psychologically gain control. Or you can focus on paying the debt with the highest interest rate first (again, while doing minimums on all others) and then go on to the next highest one. That way you ladder your debt. This second approach is also favored by a lot of personal finance types.