Take an honest look at your income, expenses, debts, and savings. Understand your financial inflows and outflows, including any outstanding debts or financial obligations. This evaluation will help you gain a clear understanding of your current financial standing.

Develop a budget that outlines your income and expenses. Prioritize essential expenses such as housing, utilities, food, and transportation. Identify areas where you can cut back on discretionary spending to free up more money for debt repayment or savings.

Look for ways to reduce your expenses. Cut back on unnecessary purchases, negotiate bills and subscriptions, and find ways to save money on everyday items. Consider downsizing your living arrangements or finding more affordable alternatives.