If you have maxed out the credit on five credit cards, then you seriously need to reduce your spending and maybe get rid of most of those cards. The best way to do this is by a simple disciplined approach. You can draw money from other accounts such as your mortgage to pay off these debts, after all it is better to pay 7% than 30% on consumer debt, but of course you must maintain the discipline to not simply go on another spending spree and max out your cards again.

It is essential that you maintain your credit debts at a low enough level to be able to pay off your balance each month in full before the interest free period. If you cannot do this then you get slugged with unbelievable rates of interest.

Some cynic once said that "a sale is somewhere people go to save more money than they can really afford." This is very true, remember that it is impossible to spend yourself rich.

If you don't have a mortgage, and you can't refinance your cards so you don't have to pay so much interest, pay off one card at a time. Pay the minimum amount on all your cards except the smallest balance, and pay that one off to the best of your abilities until it is entirely clear. Once you have paid off that card cut it up.

You can now start paying off the second smallest card. Do this until you have cleared all your cards. It is ok to keep one or two cards, but always make sure you can pay off the balance in full before the due date. Credit card debt is probably the single biggest factor that prevents people from ever acquiring the money to become an investor.

You don't need to have a high income to become an investor, virtually anyone with a job can do it, but it is vitally important to manage your money or else no amount of investing will save you.