Team going bankrupt fast, what to do?

I've started a new game as manager of Melilla in Spanish 2nd Division B, mostly because of the exotic location of the city
The team starts the season with 0 pounds transfer budget and 36k pounds per week wage budget when spending is around 38k.
I've managed to reduce the wage spending to fit into the required budget and hired several staff members to improve training, scouting and medical areas. However, the team is burning through cash faster than a trophy wife on a shopping spree. By the end of September I'm 400k in red. Even if I sell everyone in my team that won't pull me out of the pit even for one month. The team cannot cover even player wages which amount to 81k per month while all income the team generates is 33k per month. If this trend continues the team will go bankrupt in mid season, any way to survive this, or should I start looking for a new job?

Generally you usually get a cash injection at some point from the owner just to tide you over, I don't believe you'll actually go bankrupt though it is obviously very frustrating that you cannot get the club into any type of profit. The only way is to be successful on the pitch and generate more money by climbing leagues and doing well in cups so ticket prices can be increased (again not something you can change yourself though). Things will improve though it does take some time.

After many games as York City with loan debts of over 4 million, you just have to grind through it, try not to overspend on players and staff too much, it takes a while and is tedious but you can usually get their wages down by a bit (375 p/w from 450 p/w for my staff for example), get rid of any youth players that aren't decent as soon as you can, and any that are decent maybe loan out with wages covered by the loaning club, then as VP says, just get results on the pitch. It's frustrating and limiting at times but at the end of the day you need money!