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 Bogart, Marietta, Douglasville, Gainesville, Lawrenceville and Decatur, Georgia.
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I had an excellent experience working with my bankruptcy attorney. From the very beginning, they were professional, knowledgeable, and compassionate. Filing bankruptcy can be overwhelming, but they took the time to explain every step of the process, ...
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I had a great experience using Jeff Field and Associates for filing my Bankruptcy. Everyone was very professional and helpful. Connie Adams was so knowledgeable and patient with all of my questions I’m so glad that I chose this law firm and would r...
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Great experience from start to finish. The process was smooth and stress-free, and Ms. Connie was amazing throughout—very helpful, professional, and supportive. I truly appreciate all the guidance and would highly recommend this firm.
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I'm just finishing up 5 years of bankruptcy, and I honestly don't know how I would've done it without this Group. Everyone was super professional every time I reached out with questions, and they were always there to answer them. I eve...
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