CALL FOR A FREE
INITIAL CONSULTATION
813.254.5696

BRIDGING YOU TO A BRIGHTER FUTURE

Life after Bankruptcy: Five Saving Tips that Will Prevent Future Problems

Saving money can be one of the best things you do to avoid further problems as you recover from bankruptcy. There is no denying things must chance after you file, but it is still possible to move in the right direction with your finances despite previous missteps. These five savings tips will help you get things back on track and ensure your bankruptcy was worth the effort.

1. Create a Plan

Moving forward after bankruptcy is nearly impossible without a plan in place. If you file for Chapter 13, you will be following a repayment plan arranged by the court. Make sure you have something set up after that expires. And if you file for Chapter 7, you need to create your own plan. Set goals, be realistic, and re-evaluate your situation every six to nine months. The more you save the better, even if it means drastically changing your lifestyle.

Need ideas for creating a personalized savings plan? Check out these tips from Bankrate.com.

2. Be Smart about Access to Money

The more ways you have to access your money the more likely you are to spend it. Ideally, you your paycheck can be directly deposited into your account so you are less tempted to spend too much. Also make sure you are not tempted to use debit cards to access your account.

3. Schedule Automatic Payments

Another way to limit access to your money is to set up automatic payments for bills. This guarantees bills are paid on time, so you do not fall behind and accumulate late fees. It also means you handle your money less.

4. Reach a Mutual Agreement with Anyone Involved in Your Finances

In most cases this will be a spouse. Any time there is more than one person involved in a financial arrangement, they must agree on priorities and on money management. Otherwise things get out of hand quickly.

5. Lighten Up

As important as it is to be strict with your finances after your bankruptcy, you cannot punish yourself forever. And trying to stick to too strict a schedule can backfire. The smarter thing to do is to set a savings goal when you want something unnecessary. If you are currently saving $100 per month toward emergencies, bump that number up to $125. After four months you will have an extra $100 to put toward something fun and it will not affect your bills or your pre-established savings goal.

Do you have questions about bankruptcy? Are you facing financial struggles that just seem to spiral more and more out of control with each month? We can help. Contact the Law Offices of Robert M. Geller at 813.254.5696 for more information.

Living Beyond Your Means? How to Tell If Bankruptc...
Five Tips for Young Debtors

Related Posts

Contact Us

First Name

Invalid Input
Zip Code

Invalid Input
Last Name

Invalid Input
Phone

Invalid Input
Email

Invalid Input
Case Details

Invalid Input
Security Code *

Invalid Input



For The Next 5 Days Get A Free Book About Bankruptcy



Contact Us For
More Information

Tampa Bankruptcy Attorneys - Law Firm Profile


Tampa Bankruptcy Attorneys - Law Firm Profile
Tampa Bankruptcy Attorneys - Law Firm Profile

Chapter 7 Bankruptcy in Tampa - Robert Geller Bankruptcy Lawyer
Chapter 7 Bankruptcy in Tampa - Robert Geller Bankruptcy Lawyer

Chapter 13 Bankruptcy Lawyer in Tampa, FL, Robert M. Geller Attorney
Chapter 13 Bankruptcy Lawyer in Tampa, FL, Robert M. Geller Attorney

Creditor Harassment - Robert Geller Tampa Bankruptcy Attorney
Creditor Harassment - Robert Geller Tampa Bankruptcy Attorney
 
  
 
comodo

We are A Debt Relief Agency.
We help people file for
bankruptcy under the Bankruptcy Code

Pay Online    

Office Locations

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405
Maps & Directions


Tampa Law Office Map

Satellite Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G

St. Petersburg, FL 33701
T: 727-532-3939
Maps & Directions


Map and Directions

At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., we help people with consumer bankruptcy matters in the Tampa Bay-St. Petersburg,  Florida communities such as Clearwater, St. Petersburg, Thonotosassa, Riverview, Lutz, Plant City, Brandon, Carrollwood, Wesley Chapel, St. Petersburg Beach, Lakeland, Mulberry, Dade City, Pinellas Park, Largo, Seminole, Odessa, Oldsmar and Lithia, and counties such as Hillsborough County, Pinellas County, Pasco County, Polk County and Manatee County.