Search Site
Menu

Budgeting Tips for After Bankruptcy

Budgeting is a preventative measure that can keep people from falling into debt. Sometimes unforeseen events lead to bankruptcy, such as divorce, illness or investment loss. However, in other instances, debt results from poor financial management. If poor financial management was a factor, it is important to avoid repeating the same mistakes. Budgeting is one way of avoiding similar pitfalls and living within one’s means.

Budget ideas

*         When Georgia bankruptcy attorneys  help individuals file for Chapter 13 bankruptcy, they work out a monthly budget and make debt payments to the trustee. Following the same budget ideas after the conclusion of bankruptcy may be an easy and effective way to stay within a budget.

*         The information learned in the financial management education course (completed as part of the bankruptcy filing requirement ) offers ideas for budgeting expenses.

*         Estimate your average monthly income and list your monthly expenses. If your expenses exceed your income, you either must figure out how to make more money or how to reduce expenses.

*         Ways to increase income may involve taking on a second job, creating your own part-time business or seeking a promotion or raise in your current line of work.

*         Ways to cut down on expenses may include putting off the purchase of a new car, moving to a smaller home, or moving from a home to an apartment. Cutting down on some activities such as eating at restaurants and making unnecessary purchases may be required to help balance the budget. Remember to write down all your expenses each month, before the month starts, and stick to the amounts allotted for each expense.  

For experienced legal help with bankruptcy

Jeff Field & Associates  has more than 70 years of combined experience helping our clients obtain debt relief and get on with their lives. Visit us at our offices in Scottdale, Marietta, Douglasville, Gainesville, Lawrenceville and Athens, Georgia.

 
Leave a Reply

Your email address will not be published. Required fields are marked *

Videos
Our Attorneys
Client Reviews
  • lawyers
    5.0/5.0

    Jeff Field & Associates, guided me through my Chapter 13 very smoothly. All my accounts and debt are paid off and my credit scores are all above 700! I highly recommend Jeff Field & Associates.

    Read more

    Client

  • lawyers
    5.0/5.0

    There are several words that come to mind when I think of Jeff Fields & Associates, Athens GA, however, I would just list a few. Some of them ate Professional, factual, caring, compassionate, timely, supportive, and detailed. I found myself in a situ...

    Read more

    Client

  • lawyers
    5.0/5.0

    Mr. Fields and his staff was very professional and they explained everything so it was clear to me and they made sure I understood the process. I would recommend they to all my family and friends especially if they need a very good financial relief l...

    Read more

    Client

  • lawyers
    5.0/5.0

    I had an Impeccable experience with Mr. Fields and his associates! I cannot express my gratitude to them. I called for my free consultation and got an appointment that same week. Mr. Fields answered all my questions and listened to my situation thoro...

    Read more

    Client

  • google
    5.0/5.0

    It was definitely a process due to the COVID pandemic but I am so glad I chose Jeff Fields and Associates. Everyone from the office that I worked with was always polite and responsive to all my questions and needs. I was hesitant on filing because I ...

    Read more

    brandoncade928

See all reviews
Contact us

Please fill out the form below and one of our attorneys will contact you.

Quick Contact Form