subject: How Can I Start Saving Money In My Life After Bankruptcy? [print this page] The thought of trying to start saving money can be unbearable, and sit gets even worse if you are saving from scratch due to bankruptcy. However, this article is not for sadness, neither is it a subtle way to console you.
Rather, it is everything to tell you that you can achieve your life dreams even after the scourge of bankruptcy. You no longer have the pain in the ass feeling of a part of your paycheck being taken away from you ever month.
You are no longer to be afraid of the hanging sword of Damocles, that your house and belongings could be carted away from you all of a sudden one night when you are unsuspecting. Best of all, you no longer have to lay awake, in fear of the harsh calls from all your creditors.
However, to ensure that your relief is not short-lived, you would have to take deliberate steps to ensure that you do not fall into debts again. I am sure that the memory of how you fell into debts the first time is still fresh in your memory? Therefore, you need to ponder on the best methods available to avoid falling into the pit of debts a second time.
First of all, start by removing those things you feel you can do without from your budget. The best way toe do this would be by taking stock of your expenditure for at least a week. Just keeping this form of tracking would really open your eyes and enlightened you to the number of useless expenditure you actually make every month.
For instance, you might become educated on the amount of money you are actually wasting eating out every day, or the money you spend going to the movies. It is also possible that you did not really know how much the little snacks you take in every night were costing. That is why you would need to take stock to find out what you can do without, and then plan ahead for the really big stuff.
However, I would advise you from a personal view, since a lot of people actually make this kind of mistake: do not cut down on your expenses only to spend money on other things you do not actually need. Spend on your necessities.
For instance, food and clothing are basics that you cannot simply cut out. Ensure that you have however paid for the importance things like your home and car. Also the insurance should have been paid up for both too.
A lot of people who try to save money might think that a wise decision is to go buying cheap insurance policies. However, this is very foolish, since these forms of insurance do not really insure so much and you would be exposing your family to dangers and for what? Only a few pennies are saved for all your efforts.
Therefore, if you want to start saving money, ensure that you use all the right methods.
