Many people in Ohio have a credit card balance. While having some credit card debt is manageable, if you don't keep up with it, it can end up weighing you down in a way that can seriously affect your well-being.

Of course, the most obvious way to avoid debilitating debt is to pay off your credit card debt completely each month. Even if you think you don't have the money to chip away at your debt in a meaningful way, you may want to look again. You should start by figuring out how much you would have to pay each month to get rid of your debt in a year -- and don't forget to include interest.

Once you know how much it will take, then you can start digging into your finances to see if paying off your credit card debt in a year is possible. First, think hard about all of the things you pay for, then ask yourself if you really need them. Can you start carpooling with a co-worker to cut down on gas? Can you eat in more often or stick to happy hour menus when you go out? Even shopping around for cheaper options for car insurance or Internet and cable services can yield major results.

If your credit card debt isn't too overwhelming, this technique may leave you with enough extra cash to make that monthly payment you came up with. If you have multiple credit cards and owe debt on all of them, start chipping away at the card with highest interest rate first.

Finally, when paying off debt is simply not an option, bankruptcy may be a good choice. Bankruptcy allows for the discharge of certain debts including credit card debt, mortgage debt and medical bills, allowing you to start over fresh.

Source: Kiplinger, "How to Pay Off Your Credit-Card Debt in a Year," Cameron Huddleston, Jan. 21, 2014