How to fix your financial situation
1. Diagnostics of the current situation
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.
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.
- 50% - necessary expenses.
- 30% - debt repayment and pillow creation.
- 20% - "life bonuses" (strictly without game themes).
- 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.
- 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.
- 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.
- One-time projects, delivery, reporting, participation in surveys - everything that can be started immediately.
- Remember: no return to gaming sites!
- 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.
- The first stage is to accumulate 1000 grn/₽/$, then 3000, then the full amount.
- Transfer immediately earned money from the main card to the "reserve" so as not to spend.
6. Continuous monitoring and adjustment
1. Weekly financial report:- 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).
7. Prevention of "gaming relapses"
1. Closing all game channels:- Uninstall applications, block sites through browser extensions and bank functions.
- In the calendar and tracker application, put reminders about the goals and results achieved.
- 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.
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.
