Becoming Financially Stable

Becoming Financially Stable

After filing bankruptcy, you need to be pro-active in taking control of your finances and embracing this second chance of financial freedom. The last thing you want after filing bankruptcy is to have to make another appointment with a bankruptcy attorney in the future. If you want to maintain your financial stability you need to make some serious lifestyle changes.

We are continuing our series of articles discussing some strategies to help you maintain your financial stability. Our previous article discussed the importance of tracking your spending and planning ahead. Today, we will look at more strategies to consider.

Avoid Impulse Buying

We’ve all been there; you’re walking through a store and you see something that catches your eye. Before you know it, it’s in your cart without really thinking about whether you need it or not. Impulse buying can be a huge detriment to your budget.

When you’re tempted to make an impulse purchase, take a step back and ask yourself if you really need it. Is it just something that caught your eye in the moment?  One way to avoid impulse buying is to stick to a list. Whether grocery shopping or running errands, making a list of the things you need before you leave home can help you avoid making impulse purchases.

Use Cash Instead of Credit Cards

Credit cards can be a great financial tool, but they can also tempt us to overspend. Credit card debt is one of the main reasons why people consult a bankruptcy lawyer. It’s so easy to swipe your card and forget about the bill that will come due at the end of the month. Avoid the credit card trap by using cash instead. When you’re shopping, bring only the amount of cash that you plan to spend. Leave your credit cards at home to avoid the temptation to overspend. This will help you stick to your budget and avoid unnecessary expenses. If you do need to use a card instead of cash to make a purchase, consider using a debit card instead. This way, you’ll only spend what you have in your bank account, and you won’t accrue debt that you’ll have to pay off later.

Our next article will cover more tips to help you maintain financial stability.

If you need a bankruptcy lawyer, the debt resolution professionals a Drose Law firm are here to help. When filing bankruptcy, Charleston residents and those in surrounding areas have trusted the Drose Law Firm to handle their debt resolution issues for more than 30 years. Our bankruptcy attorney does not take on personal injury, malpractice, criminal law, civil lawsuits, or any other type of cases, he concentrates solely on debt resolution. If you’re having money issues and don’t know where to turn, our bankruptcy lawyer can help. Give Drose Law Firm a call today.