Newbie in Trouble (Economy Guide)
First, you need to assess how much you are making/losing biweekly. The reason we say biweekly is because on average, you alternate home and away games. There will be a point in the season where you have two home or two away games as well. If you are making money biweekly, then you just need to be patient and perhaps follow the next few steps to get yourself out of debt quicker.
See how many players you have on your squad. If you play twice a week, you can only play 22 players total. This should be your goal, to get under this number. Set Piece and Stamina trainers will have more, understandably, but if you are having financial difficulties, those aren't training regimes that are recommended. Depending on your training, you will need a different number of players, but make sure you maintain a full squad of trainees and at least one backup at each position (for example, in a 4-4-2, you'd want 5 defenders and 3 forwards, at least). Currently, I keep 20 on my roster not including the coach. For a newbie, this will get you down to about $15-16k (US) in salary.
Look at your staff. If you have any psychologists, fire them. If you have any assistants over 5 (GK or Assistant coaches), fire them. If you are in debt, usually one economist is sufficient to pay for himself. More than one, unless you are really in debt, is a waste of money. Look at how many doctors you have and your injured players. If you have no injuries, fire all doctors. If you have some injuries to players under 27, consider reducing the amount of doctors to 1. The players will still heal and every doctor you hire is less efficient than the first one. Look at how many physios you have. If you are training at 100% and have tons of physios, consider firing all but one of them and training at 97% to offset the injury risk. As for spokespersons, many disagree what to do. I think that too many spokespersons when you are in debt will lose you money, so I recommend keeping anywhere from 1-4 of them. Remember, they are just like any staff, their benefit reduces with each extra one you hire.
Also, when you fire staff, try and do it after the training update and before the economic update to maximize their benefit (especially assistants and doctors).
Remember to schedule friendlies. They will make you a little of weekly money. Don't travel internationally, play in your home country or invite international teams to your stadium. The money lost isn't worth it. You'll be able to find a team in your own country that can rival the crowd you'd find internationally.
Reduce the amount you are contributing to the youth squad. Some say get rid of it completely, but if you maintain the minimum contribution, you can stay at inadequate. It is up to whether or not your finances can allow it, but starting from inadequate is much easier than starting from poor when you are building back up. It will save you at least a few weeks when you start contributing to it again...
Stay off the transfer list, unless you absolutely have to, which is almost never. Don't upgrade or shrink your arena, unless it is something like 100 times as large as your supporters and you lose every game, which is unlikely.
If you follow all of these tips, you will not be losing money anymore. There just isn't any way that it can happen, because the gate receipts and sponsor income will certainly outdo the expenses of the staff and salary.