you should look to cut back in the areas that can provide some savings in the short term.


After you written down your monthly income and expenses, you should start looking for the areas where you might be able to cut back. The best place to start is with the expenses that fall in the variable category. Because your standard expenses typically represent long term obligations that you can immediately change, such as rental or car payments, you should look to cut back in the areas that can provide some savings in the short term.