LOL! Do a budget? Yep, that would be about the limit of ASIC's intelligence. Or the reporter's it's not clear whose idea it is.
Basically you are overspending. All you have to do is to say to yourself, before you spend (or commit yourself to spending) any money - DO I REALLY NEED THIS? Indeed, shout it to yourself. Whether it is a newspaper, cup of coffee, Subway, new toy (with a lifespan of 7.24 minutes), mobile phone, holiday or "My Family" stickers to obliterate your rear window.
Definitely contact your loan provider and talk about your problem - at least you've already started on cutting out all unnecessary expenditure and can tell them that.
Although a lot of people probably don't know what unnecessary means when it comes to spending. The idea of making their own sandwiches for lunch is probably incomprehensible. Walking 300m to the shops instead of driving - wow, never thought of that one. Could we actually make do with one car instead of two? "No, how would my wife get to the gym class while the lawnmower man does the garden" (clue; cut out both and save '000s, cut the lawn yourself with a push mower and get fit that way!). And get rid of the car!
