• Home
  • About
  • Life Style
  • Family
  • Tips
  • Health
  • Business
  • Pets
  • Recipes
  • Contact
    • Facebook
    • Instagram
    • Twitter

When Parents Text

When Parents Text

3 Ways To Plan For Life After Bankruptcy

January 6, 2021 by Annie

While filing for bankruptcy might feel like a relief, you may find that your life after bankruptcy will be just as challenging, albeit in a different way.

To really succeed after having filed for bankruptcy, you really need to plan for how you’ll handle your finances in the future. To help you with this, here are three ways to plan for life after bankruptcy.

Spend More Time With Your Budget

As you get ready to file for bankruptcy, it’s wise to spend a lot more time going over your budget so that you can avoid falling deep into debt again.

Geoff Williams, a contributor to U.S. News and World Report, recommends that you budget your money well both when thinking about borrowing more money in the future and just for your regular expenses that you’ll still be dealing with each month. The better you’re able to budget your money and really see what is coming in and what is going out each month, the more in control you’ll be able to be. And when you’re in control of your money and where it’s being allocated, you’ll have a much better chance of staying with your budget and avoiding future issues with debt or bankruptcy.

Start With A Secured Credit Card

Even as you’re filing for bankruptcy, you’ve got to think about how your financial future is going to be affected.

Ideally, you should still be contributing to your retirement or other savings or investment plans that will be available to you in the future. But when you want to start building your credit back up, Bankrate.com recommends that you start by using a secured credit card. With a secured credit card, you will add money to the card that you can then use like you’re using a credit card. As you prove that you’re able to stay within your card limit and may appropriate repayments when necessary, you’ll be able to build your credit in a way that doesn’t present as much risk to you.

Commit To Staying On Top Of Your Bills

One reason you may have slipped into the large amounts of debt that lead someone to bankruptcy could be because you allowed yourself to fall behind on your bills. But because you’re always going to have bills, you’ve got to come up with a way to stay on top of this problem in the future.

According to Mark P. Cussen, a contributor to Investopedia.com, the best way to make sure that you can stay on top of your bills is to be very careful about what your monthly expenses are so that they don’t become more than you can afford. Then, commit to paying your bills in full before they’re due each month.

If you’re going to be filing for bankruptcy soon, consider using the tips mentioned above to help you plan for your life after this action.

About Me

Hi! I'm Annie and I have 3 kids (all in their teens - yikes!). My mommy blog isn't all about lunches and DIY - it's also about humour. Like how my kids make fun of my texts as if I don't know how to use emojis (I DO!). Now that I have a bit more time - since my kids don't want to hang out with me (teenagers), I have taken up blogging.

ONE: Assisting Financially-Strapped Families With Inflation Pressures

May 24, 2022 By Annie

Some Questions That You Want to Ask About From A Residential Structural Engineer

May 20, 2022 By Annie

What does a pillow protector do that makes it useful?

May 19, 2022 By Annie

What is the best step for better beard care?

May 19, 2022 By Annie

img

The Basics of Home Warranties and What They Cover

May 19, 2022 By Annie

  • Facebook
  • Instagram
  • Pinterest
  • Twitter
  • Facebook
  • Google+
  • Twitter

ONE: Assisting Financially-Strapped Families With Inflation Pressures
  • Business

ONE: Assisting Financially-Strapped Families With Inflation Pressures

By Annie  / May 24, 2022
During the past few years, simply securing money to cover household expenses and family needs has been hard enough. With...
Read More
Some Questions That You Want to Ask About From A Residential Structural Engineer
  • Tips

Some Questions That You Want to Ask About From A Residential Structural Engineer

By Annie  / May 20, 2022
Structural Engineers are specialized people that determine the integrity of homes and buildings. When it comes to questions about buildings...
Read More
What does a pillow protector do that makes it useful?
  • Health

What does a pillow protector do that makes it useful?

By Annie  / May 19, 2022
If you have recently come across pillow protector then you may not entirely be familiar with the concept and all...
Read More
What is the best step for better beard care?
  • Health

What is the best step for better beard care?

By Annie  / May 19, 2022
If you are passionate about starting your journey towards better beard care then you might be wondering what the best...
Read More
The Basics of Home Warranties and What They Cover
  • Business

The Basics of Home Warranties and What They Cover

By Annie  / May 19, 2022
There is no doubt that your home is a valuable investment. It is likely the largest purchase you will ever...
Read More
Newborn Photography Tips for New Parents
  • Tips

Newborn Photography Tips for New Parents

By Annie  / May 18, 2022
Newborn photography is an art form that takes perfecting- but you may only have one chance per child- so it's...
Read More
Can a Chapter 7 Bankruptcy Ruin Your Credit Score?
  • Uncategorized

Can a Chapter 7 Bankruptcy Ruin Your Credit Score?

By Annie  / May 17, 2022
The short answer is no it will not ruin your credit scores, but the longer answer is that of course...
Read More
5 Ways That Digital Tech Can Help Mums
  • Family

5 Ways That Digital Tech Can Help Mums

By Annie  / May 16, 2022
If you are approaching motherhood, this is an exciting time for sure! Of course, it is perfectly normal to be...
Read More
Styles in tee shirts!
  • Life Style

Styles in tee shirts!

By Annie  / May 11, 2022
Tee shirts are more famous than they ever had been earlier than. They have the precise potential to give your...
Read More
How Moms Can Plan a Memorable Northeast Family Vacation
  • Tips

How Moms Can Plan a Memorable Northeast Family Vacation

By Annie  / May 6, 2022
Going on vacation can be a great way to spend time together as a family, and there is plenty to...
Read More

About Us

Hi! I’m Annie and I have 3 kids (all in their teens – yikes!). My mommy blog isn’t all about lunches and DIY – it’s also about humour. Like how my kids make fun of my texts as if I don’t know how to use emojis (I DO!)... Read More…

When Parents Text

  • Home
  • About
  • Life Style
  • Family
  • Tips
  • Health
  • Business
  • Pets
  • Recipes
  • Contact

© 2022 · Pretty Creative WordPress Theme by, Pretty Darn Cute Design