First Step: Make an Inventory

You have discovered that you are financially way in over your head. How to start if you would like to achieve financial stability? Start with inventory of all your income and expenses, debt and investments, assets and liabilities. Only after you make a complete balance and understand what your real financial situation is like, you can start to find real solutions and work your way out of troubles and into financial stability. When you make a list, all your present income should be undervalued and expenses overvalued. Do not paint your world in pink colours or you will make a list that will not truly reflect all possible turns for the worse that can await you in the future. Also, make an inventory of material possessions, like cars, electronic equipment and all other valuables.