Personal debt is a serious problem for some people. And a serious problem sometimes needs an extreme solution.

While these 5 ways to help you reduce your debt levels may not be for everyone, they could go a long way to reducing some people’s debt levels and give them a better lifestyle.

1. A change of attitude and lifestyle

If you are living the high life or trying to keep up with your friends, or just making too many purchases, then you need a change of lifestyle, or at least the motivation to want to change.

2. Avoid fees wherever possible

Over time fees can eat into your savings and give you less cash to spend on the things you need, but there are always ways to avoid fees. Like pushing the credit button when using your Visa Debit card, finding the right account for you, and talking to someone who can help you reduce or eliminate your fees.

3. Make your intentions public

Telling people you are going to do something gives you much more motivation to actually do it, and you will have a much better chance to succeed. You could start a blog, announce your desires on Facebook, or just tell a bounch of your closest friends.

4. Move to a cheaper home/neighbourhood/city

For most people this would be a big decision, but down-sizing or moving to a suburb or city you can afford is one way you can save thousands of dollars every year.

5. Hang around the right people

Studies have shown that people eat more when they eat with another person who is overweight. It only seems natural this would apply to shopping as well. If you hang around with someone who loves to buy things you will probably end up spending more yourself.

Have you ever considered anything like this to reduce your debt?