To make a budget for debt repayment, you should first list all of your income and expenses. Then, you can identify areas where you can cut expenses, such as eating out or subscription services. You should also consider ways to increase your income, such as taking on a part-time job or renting out a room in your home. Once you have a clear picture of your finances, you can allocate funds towards paying off your debt.

Debt consolidation is a way to combine multiple debts into a single, more manageable loan. This can be done through a consolidation loan, balance transfer credit card, or a home equity loan. The goal of consolidation is to lower the interest rate and monthly payments on the debt.

You can negotiate with your creditors by explaining your financial situation and asking them to lower your interest rates or monthly payments. It's important to be honest and upfront, and to have a plan in place to repay the debt. You can also seek professional help from a credit counseling service or debt management company.

Some common mistakes people make when trying to get out of debt include not making a budget, not prioritizing debt repayment, and taking on new debt while trying to pay off existing debt. Another mistake is not seeking professional help when needed. It's also important to have a clear plan in place and to stay organized and motivated throughout the debt repayment process.