According to financial expert, Suze Orman, not all debt falls into the category of bad debt (though some may argue that by saying all debt is bad.) Orman says that "Knowing the difference between good debt and bad debt is the key to financial well-being."

Good Debt is money borrowed to purchase an asset: homes or mortgage, education or student loans, etc. while bad debt is money borrowed to finance a "want" or a depreciating asset: cars, credit card balances, home equity lines, etc

Follow these guidelines to help you determine what qualifies as "Good Debt:

• The debt must be limited, without the ability to continue increasing (a revolving account, such as a credit card, is not limited, and increases as you add more to it).
• The debt’s interest rate must be stable, at a reasonable, predictable level.
• The debt must have regular payment amounts that are manageable within a budget, on time to avoid late fees and penalty interest-rate increases.
• The debt must have been acquired for a purpose that an average person would say was sensible. (A good test is whether you will be able to remember in six months why you have the debt — coffee drinks or CDs usually can’t pass this test.)
• The debt is incurred for something that can appreciate, such as buying a home or investing in a business.

Read more about bad debt vs. good debt here.

So here is tip I learned from a wise person once--

When you have extra money to use towards paying credit card debt, use that extra money on just one card. Pick the credit card you have the lowest balance on, and then work towards paying it off completely. Send in extra money along with the minimum monthly payment, as often as you can, until that card is paid off.

Then start paying off the next credit card the same way. Use the money you would have sent on the first card, the minimum payment due each month, along with the regular payment you send in each month on the second card, and you will get that card paid off faster too.

Move on to the third card. Keep budgeting credit card payments for the first two cards that you have already paid off. Just use those monthly payments for your third credit card now. You should see the credit card get paid off much quicker now.

The key is: when you pay off a credit card, and no longer have a monthly payment to make on your card, don't just spend that money elsewhere. Keep that budgeted payment and use it to pay other debt each month.

Keep doing this, one card at a time, until all are paid off.