Step 3 - Consider ways of reducing your expenditure or increasing your income

Consider what non-essential expenditure you could reduce or cut-out without financial penalty, and ways in which you might increase your income. For example:

AVOID BORROWING MORE MONEY TO REPAY YOUR DEBTS.

STOP USING ALL YOUR CREDIT AND STORE CARDS

YOU MUST REDUCE YOUR REGULAR EXPENDITURE SO THAT IT IS BELOW YOUR INCOME

If you can identify any changes you'll make then you'll need to revise the Financial Statement you drew up in Step 2.

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