There are times when all cards have been played and there’s nothing left to do except call in the bankruptcy lawyer. Wiping the slate clean can be a way to start over after devastating financial blows. There are steps to take beforehand to keep one’s financial life in the black. Here are some things to think about.
- Don’t count chickens before they’re hatched: Many individuals get into trouble with their checkbooks by counting on money that hasn’t yet been paid to them. This may include end of the year bonuses, the annual pay raise, selling one’s house and planning to make X amount of money. While this money may hit one’s bank account as planned, there’s also a chance that something could go awry. The boss may come to the end of the year holiday party and make the announcement that there won’t be bonuses after all. At one’s annual review, the supervisor may give the bad news about pay freezes. One’s house may not sell for the price that it was expected to draw. If a person has banked on the money which hasn’t arrived and spent it ahead of time, this could lead to big trouble. Don’t count chickens before they’re hatched.
- Save for a rainy day: Automatic depositing into a savings account on payday will be a way of saving cash before it’s even available. If an individual has a rainy day fund, when the car breaks down or there’s a layoff at work, there will be a cushion. Living without an emergency fund is like walking the tightrope without a net.
- Live below one’s means: The American way is to strive for bigger and better. That’s one of the reasons the whole country is scrambling. In order to play it safe and alleviate a whole lot of economic stress, it’s wise to live below one’s means. A smaller house, a less expensive vacation, sharing a car with one’s spouse, buying resale items – these are all ways to live below one’s means and still be comfy.
- Cook at home: Restaurant meals add up quickly. In fact, the price of one dinner out at a fancy restaurant could pretty much feed a couple of people for a week. Home cooking is healthier, too. Buying the freshest produce at the farmers’ market, looking for the leanest meats or firmest tofu at the grocery store and trying new recipes will be good for one’s physique and wallet.
- Cut up the plastic: If a person has to rely on plastic to live, it’s only a matter of time before the walls come tumbling down. Before becoming dependent on a rectangle of plastic, cut costs wherever possible. If you can’t afford something today, you won’t be able to afford it tomorrow with interest added on. Don’t fall for the credit card companies’ hype.
If a person does hit the financial wall even after trying their best to dig out or stay out of debt, contacting the bankruptcy lawyer will be a good plan. Letting one’s health and relationships suffer due to stressful money trouble is not worth it.
- Don’t count chickens before they’re hatched: Many individuals get into trouble with their checkbooks by counting on money that hasn’t yet been paid to them. This may include end of the year bonuses, the annual pay raise, selling one’s house and planning to make X amount of money. While this money may hit one’s bank account as planned, there’s also a chance that something could go awry. The boss may come to the end of the year holiday party and make the announcement that there won’t be bonuses after all. At one’s annual review, the supervisor may give the bad news about pay freezes. One’s house may not sell for the price that it was expected to draw. If a person has banked on the money which hasn’t arrived and spent it ahead of time, this could lead to big trouble. Don’t count chickens before they’re hatched.
- Save for a rainy day: Automatic depositing into a savings account on payday will be a way of saving cash before it’s even available. If an individual has a rainy day fund, when the car breaks down or there’s a layoff at work, there will be a cushion. Living without an emergency fund is like walking the tightrope without a net.
- Live below one’s means: The American way is to strive for bigger and better. That’s one of the reasons the whole country is scrambling. In order to play it safe and alleviate a whole lot of economic stress, it’s wise to live below one’s means. A smaller house, a less expensive vacation, sharing a car with one’s spouse, buying resale items – these are all ways to live below one’s means and still be comfy.
- Cook at home: Restaurant meals add up quickly. In fact, the price of one dinner out at a fancy restaurant could pretty much feed a couple of people for a week. Home cooking is healthier, too. Buying the freshest produce at the farmers’ market, looking for the leanest meats or firmest tofu at the grocery store and trying new recipes will be good for one’s physique and wallet.
- Cut up the plastic: If a person has to rely on plastic to live, it’s only a matter of time before the walls come tumbling down. Before becoming dependent on a rectangle of plastic, cut costs wherever possible. If you can’t afford something today, you won’t be able to afford it tomorrow with interest added on. Don’t fall for the credit card companies’ hype.
If a person does hit the financial wall even after trying their best to dig out or stay out of debt, contacting the bankruptcy lawyer will be a good plan. Letting one’s health and relationships suffer due to stressful money trouble is not worth it.
When the worst happens and they need to consult with a bankruptcy lawyer Charlotte citizens know that a qualified legal professional is there to aid them through troubled times. Don't fret: for more information, visit http://www.bankruptcyattorneyatlaw.com/.
{ 0 comments... read them below or add one }
Post a Comment