How to fix your financial situation
1. Diagnostics of the current situation
1. Data collection:
2. Categorization of expenses:
Divide spending into three groups:
3. Break definition:
2. Tight budgeting
1. Method of "envelopes" or digital analogue:
2. 50/30/20 rule (adaptation):
3. Control of cut-off points:
3. Debt repayment and restructuring
1. "Snowball" or "avalanche" priority:
2. Negotiations with creditors:
3. Auto payments for debts:
4. Increase and diversification of income
1. Monetization of skills and hobbies:
2. Part-time work on weekends and "tax holidays":
3. Passive income:
5. Creating a financial cushion
1. Goal "minimum 3 months of expenses":
1. Data collection:
- Download or collect statements on all bank cards, e-wallets and loans for the last 6-12 months.
- Record the real amounts of losses, mandatory payments (loans, utilities, insurance) and the current balance on the accounts.
2. Categorization of expenses:
Divide spending into three groups:
- 1. Necessary (housing, food, transport, minimum debt payments).
- 2. Desirable (entertainment, subscriptions, hobbies).
- 3. Impulsive (any transactions related to gaming sites or attempts to "recoup").
- Count them as a percentage of total revenue.
3. Break definition:
- Compare income and expenses: calculate a surplus or a negative balance.
- Identify the amount you systematically go "negative" or spend beyond your capabilities.
2. Tight budgeting
1. Method of "envelopes" or digital analogue:
- Create separate "cells" (envelopes or categories in the application) for each expense group.
- Distribute month income on them, limiting spending strictly within envelopes.
2. 50/30/20 rule (adaptation):
- 50% - necessary expenses.
- 30% - debt repayment and pillow creation.
- 20% - "life bonuses" (strictly without game themes).
3. Control of cut-off points:
- Set daily or weekly limits for unplanned costs.
- When the limit is reached, a complete ban on new insignificant expenses.
3. Debt repayment and restructuring
1. "Snowball" or "avalanche" priority:
- Com: Start with the smallest amount of debt for a quick psychological win.
- Avalanche: first pay off the debt with the highest interest to minimize overpayment.
2. Negotiations with creditors:
- Contact a bank or MFI with a request for a moratorium, installment plan or interest rate reduction.
- Sign a new payment schedule - this will ease the load and improve discipline.
3. Auto payments for debts:
- Set up an automatic monthly charge of at least the minimum payment 2-3 days before the due date.
4. Increase and diversification of income
1. Monetization of skills and hobbies:
- Freelance (copywriting, design, programming), tutoring, advice on your profession.
- Selling unnecessary things on marketplaces.
2. Part-time work on weekends and "tax holidays":
- One-time projects, delivery, reporting, participation in surveys - everything that can be started immediately.
- Remember: no return to gaming sites!
3. Passive income:
- Savings against interest (deposits), investments in safe instruments (OFZ, ETF).
- Be sure to study the risks and grade the portfolio.
5. Creating a financial cushion
1. Goal "minimum 3 months of expenses":
- Until this goal is achieved, postpone all "bonus" spending. 2. Step-by-step plan: "1000-3000-6000":
- The first stage is to accumulate 1000 grn/₽/$, then 3000, then the full amount. 3. Separate account or contribution:
- Transfer immediately earned money from the main card to the "reserve" so as not to spend.
- Compare the plan and actual spending, identify deviations.
- Keep short records of reasons for overspending.
- Measure progress against key metrics: debt, cushion, earnings over base.
- Revise budget rules if necessary.
- Share numbers with a trusted person (partner, relative) or financial coach.
- Establish regular "check-ins" and sanctions for violations (refusal of insignificant pleasures).
- Uninstall applications, block sites through browser extensions and bank functions. 2. AutoReminders:
- In the calendar and tracker application, put reminders about the goals and results achieved. 3. Alternative rewards:
- For each month of compliance with the plan - a small reward (book, trip to the cinema, master class).
- The main thing is not to return to spending money on excitement.
6. Continuous monitoring and adjustment
1. Weekly financial report:
2. Monthly audit:
3. Responsibility and reporting:
7. Prevention of "gaming relapses"
1. Closing all game channels:
Systemic financial recovery is a combination of honest diagnostics, tight budgeting, disciplined debt repayment, income growth and the creation of a "reserve cushion." Regular monitoring and reporting to your chosen responsibility partner will eliminate the return to gambling and help you fully restore your financial well-being.
