Dear Dave,

I want to try to get control of my finances. But after living so long from paycheque to paycheque, and having so much debt, I’m almost afraid to open all the bills to find out just how bad things really are.

I make about $75,000 a year, but it’s a real struggle just to keep my head above water financially. My chequing account is always overdrawn, and I don’t know where to start when it comes to getting control of my money. Please, do you have any advice?

— Breanna

Dear Breanna,

Believe me, I know how scary it can be to find yourself in this position. When I went broke years ago, I was so scared I had trouble breathing sometimes.

Do you know what I eventually realised? The easiest way to attack things like this and clean up the mess is by taking one slow, sure step at a time. Fear will paralyse you, if you let it. But a clear plan for moving forward will give you the power to change your financial future.

First things first. Sit down, and take a deep breath. Then, open all the unopened bills. Go through them one by one, and throw away any duplicates. Keep only the most recent statements and notices.

The unknown is always scarier than the known, so facing the bills, and cutting the size of that stack down right off the bat, will help reduce your anxiety.

Next, let’s start a debt snowball. List all the debts you owe from smallest to largest, making one column for the pay-off balance, one column for the amount you need to get current on that debt, and one column for the single payment amount when you get current.

Total each column, the pay-off balance, the amount to get current, and the single payment. I’ve got a feeling it won’t be as bad as you think.

Finally, sit down and make a written monthly budget. Prioritise your necessities starting with food, utilities, house or rent payments and transportation.

When it comes to your debts, pay as much as you can on the smallest one while making minimum payments on all the others.

You can do this, Breanna. If you’ll follow my plan, I think you’ll see improvement in your finances and in many other areas of your life. Once you see the progress you’re making, I bet it’ll put a smile on your face and chase that fear away!

— Dave

• Dave Ramsey is a nine-time national bestselling author, personal finance expert and host of The Ramsey Show. He has appeared on Good Morning America, CBS This Morning, Today, Fox News, CNN, Fox Business and many more. Since 1992, Dave has helped people take control of their money, build wealth and enhance their lives. He also serves as CEO for Ramsey Solutions