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I am playing as birmingham and they have gone into debt, not serious debt YET! but I am worried, Is there anything specific I can do?

I am looking good to be promoted to the premiership, will that help my finances, is it time to panic yet?

Could i sell reserve players or is that ensuring my club has no future?
 
a promotion to the premiership always helps the finance, other thing to check is perhaps the bonuses the players get. ( for goals, or perhaps appearances)

if you're about sure you get promotion you can get some reserve players to play the fixtures which means you don't have to pay the bonuses. this will help a bit.

also check the wages, if they are above, you should try selling some members of your squad which are useless.

in case you need them all as backup or something, don't sell! will get you're team demotivated and that means you will more likely lose.

hope i helped
 
you will probably be fine at the end of the season, a promotion should give you a pretty big boost financially, plus if you manage to stay up you shouldn`t have any trouble with money, as long as you don`t sign players with insane wage demands.
 
Get rid of reserves and player you dont need. Try and cut the wage budget by selling player who are on more than they are worth. then replace them when u get promoted you will be fine
 
Also take in to account how much the board are paying you. When you sign a contract with a club always take the lowest that they offer you as if you renegotiate your contract for a higher wage dont forget that it comes out the clubs finances. I recently signed a contract with Tottenham and negotiated to be paid 500,000 a week then noticed that my finances were rapidly dropping fast!!!
 
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