Money Going Out - What are you Spending?
Until you know where your money is going at the moment, you will not be able to work out how you can pay off your debts. Use the budget planner or write down what you spend each day, week, month or quarter on:
| Your home - rent or mortgage, gas, electricity, rates, telephone, insurance etc |
| Food and clothes - don't forget take-away meals and any clothes you buy for work |
| Travel - list all the costs of running a vehicle (eg insurance, rego, petrol, services costs), as well as any public transport costs |
| Financial commitments - include the repayments you should be making on loans or credit agreements |
| Entertainment, videos, movies, restaurants, cafes |
| Other things - cigarettes, alcohol, school fees, CDs, magazines, gifts, etc |
Don't forget regular occasional items like haircuts, shoe repairs or video rental. And do you have any pets? A mobile phone? Do you play the lottery? Be honest! This can only help you if you make it as complete as possible.
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