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Shrinking employment is reducing the demand for commercial real estate, and the Urban Land Institute, an industry trade group, is predicting that the bottom of the commercial market is still six to 12 months away. ByDesign Financial Solutions, a nonprofit organization offering personal finance counseling and education, is urging consumers to make “getting out of debt” their New Year’s resolution. 1. Stop Charging. Adding to your existing debt will only make the problem worse and counteract any other steps you take to pay down your balance. 2. Transfer Balances. Call your credit card issuers and try to transfer all of your balances to the card with the lowest interest rate. If this isn’t possible, make minimum payments on the cards with the lowest rates and pay as much as possible on the highest interest cards until they are paid off. Once you get down to one card, continue paying as much as you did to the highest interest rate card. 3. Asses Your Total Debt. Once you determine the total, use an online debt repayment calculator to experiment with different payment amounts to see what type of realistic monthly payment you’ll need to make to pay off the cards. Try the free calculator at: www.bankrate.com/brm/calc/creditcardpay.asp. 4. Increase Your Income. When you don’t have enough income to have funds remaining after expenses, the only alternative is to increase your income. Use as much of that extra income as possible to make additional credit card payments. Some income options include working overtime, seeking temporary part-time work and selling stuff on Amazon, eBay, Craigslist or through newspaper classified ads. 5. Focus. This plan will work if you maintain focus. Paying off your debt must become a priority for the duration of your plan. There will always be temptations to charge a vacation, buy a new car or do home-improvement projects. Being conscious of every spending decision will help you meet your goals. For more advice from ByDesign or to arrange for free, confidential debt counseling, go online to www.ByDesignSolutions.org or call 800-750-2227.