The next step is to work out your budget. Your budget lists how much money is coming into your household and how much you need to spend.

'''Income:''' List all the income for your household. Make sure that the amounts are realistic. Include all of your current sources of income:

* wages,

* GST refunds.

'''Expenses:''' The next thing you need to do is list all your expenses. Make sure that the amounts are realistic. Figure out all of your expenses on a weekly, monthly, or seasonal basis. Make sure you remember to include personal expenses, such as loans, restaurant meals or gym memberships, and household expenses, such as rent, groceries, cable, and utilities. When you make a list of your expenses, think about whether you may be able to make any cutbacks. If you can make cutbacks, this will make more money available for you to pay back your debts.