Dave Ramsey's system is a great starting point. It's not the most efficient thing out there, but it's psychologically effective -- designed to make small steps

Dave Ramsey's system is a great starting point. It's not the most efficient thing out there, but it's psychologically effective -- designed to make small steps that build on each other. You can often do things more efficiently, but the other side of that coin is that it's a lot less efficient if you get discouraged and stop working toward financial stability. So he has you take little steps -- control spending, create a buffer to prevent new debts from forming, pay off small debts, use the boost in cash flow from getting rid of each debt to pay more on the next, and eventually own your house, car, and some long-term investments. (I apologize if I've gotten things out of order or misrepresented anything in his system; it's been a while since I've looked at it.)