I tell all of my bankruptcy clients that the fresh start they get from filing is more than just the wiping out of their debt; it is the development of a new focus on their living expenses and an increased effort to live within their means (i.e. income).
Without making sure that each month you spend no more than you bring in, that fresh start will not last very long as you spend yourself into another hole.
Scrutinizing Your Living Expenses
To that end, one of the things I do in every case is examine how much it costs my clients to live, and look for ways to cut back on those expenses to eliminate any deficit spending or create an income surplus or cushion against unexpected expenses.
Most costs are fixed, or beyond your control, but others are not. This gave me the idea one day to write a series of articles on different expenses and how you can work to reduce them. This is handy information to have, not only if you are considering bankruptcy, but also if you are looking to avoid filing it.
Here Are Some Ideas
To start, I wrote a post on cell phone bills and how you can cut them back to save money. This was followed by articles covering such topics as your cable bill, insurance premiums, and utilities.
Do you have any cost cutting ideas? Then share them with us by posting a comment below. I'm sure everyone will appreciate it!