Not all Mulberry debt is bad. Mortgage debt if you haven't overbought and are paying less than a third of our income for a roof over your head is considered good debt. That's because you get a big fat tax deduction for owning the home. Other debt has no benefits. The primary culprit is credit card debt. At their essence, credit cards are 30day loans that should be paid back in full.

You might be amazed at how much you're spending each month. Get a small notebook and write down everything you spend for a month. If you buy a cup of coffee or a present for a friend, write it down. You can keep track on the computer too with software like Quicken or MSMoney. At the end of the month, add it all up and find out where you're spending your money. One way to gauge whether you are overspending Mulberry Bag Sale is this: Add a zero to the price tag of whatever item it is you're thinking of buying that's what you'd have if, instead of purchasing the item, you saved the money for 30 years and earned 8 percent. A $1,000 designer handbag, in other words, is $10,000 of retirement savings. A $40,000 car is equivalent to $400,000 in savings.

When you're ready to pay down your debt, hit the mulberry shoulder bags phones and start negotiating. Ask your credit card issuers to lower your interest rate. If you're very far in debt, you might need professional help from a credit counseling agency. Check out the National Foundation for Credit Counseling to find a reputable credit counselor. They can help negotiate with credit card companies and other lenders to lower your interest rate and work out a payment plan.