With 2016 beginning to fade in the rearview mirror, now is the time to take stock and make a plan to implement any changes you want to see in the year ahead. This does not necessarily mean making a resolution, because most resolutions go unkept. But coming up with a plan for what you want to accomplish this year, and also in the years ahead and then putting that plan into action is a good way to make some progress towards your goals. When your goals include fixing your finances, the best place to start is with finding ways to mend financial fences that work for your particular circumstances.
Five ways to fix your finances, including the option of filing for the protection offered by If you bankruptcy are:
• Make a budget, first to see where all of your money goes each month and second to see where you can cut back on expenses. Most people are shocked to see what they spend on eating out, going to the movies, or even stopping for a morning coffee. You do not have to give up these little luxuries altogether, but if most of your money is going to these types of things, you can certainly reduce the amount you spend on these things by doing them less frequently.
• Negotiate with your credit card companies for lower interest rates. If you are a longstanding and loyal customer, many companies will take you up on your offer top repay what you owe at a lower rate.
• Shop around for insurance, auto and home. You might find a lower rate, or the thought of losing your business might cause your current provider to offer a better deal.
• Make lists when you shop, so you are not tempted to overspend once you get to the store. The biggest culprit of the temptation to buy on impulse can be the grocery store. But if you make a meal plan and then list out the ingredients needed, you can arm yourself with a shopping list you can stick to when you go out for groceries.
• Plan for emergencies by starting a savings account or emergency fund. This way, you will have the funds needed when an unexpected repair or other costs arises.
There are at least a dozen more things you can do to get your finances in line. But if you are in way over your head, bankruptcy is probably your best bet. This is because once you eliminate some of your debts, you are able to do some of the things above and get back on your feet. Call us today to find out what steps you can take to fix your finances.
For more information about debt management and what you can to do get out of debt, contact us at www.DsouzaLegalGroup.com. We will help by coming up with solutions that work for you.