I’m helping a friend make a budget, but they’re spending more money than they earn, and that’s not even including any unnecessary expenses or debts.
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Making more or spending less is the only solution. I realize this doesn’t seem like much use. I will say this, though: $1400 is a ridiculous amount to pay when you share a room. There’s a cheaper spot for him to move. He is too poor to share your apartment.
Hello Jason, Monitoring Your Expenses: It’s essential to track where your money goes. You can achieve this with numerous budgeting apps or tools, or alternatively, by using a spreadsheet. Track both your income and expenses over a month to gain insight into how your money is allocated.
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Imagine getting evicted from your house due to debt. It would be best to open a new checking account and ensure you couldn’t overdraw it.