Considering Bankruptcy

If you are one of the millions of Americans facing a struggle every single month to make ends meet and to pay outstanding debts off, then there is a high chance that you are probably considering bankruptcy. In fact, if you are reading this article in the first place, then it is probably fair to assume you are considering bankruptcy in one way or another.

Bankruptcy is a massive decision with a number of long term consequences and as such, considering bankruptcy should only be done when everything else has been thought of. There are some simply ways you can stretch your finances. These simple ideas might just save you enough money that you can avoid bankruptcy!

Doodads – This was a term coined by Robert Kiyosaki and essentially encompasses all the random bits and pieces we tend to buy that never give any return. This might include an overly fancy car sitting on the driveway, a daily coffee shop coffee or lunch out. In fact, small things like snacks can quickly add up to hundreds of dollars a month without you even realising it! It’s too easy to spend money on things like this without even realising it, so check what you’re spending on them and cut back!

Gifts – Do you tend to buy random gifts for people a lot? This will be adding up! Cut the habit!

An overly pricey car – what’s wrong with the older, less fancy but just as reliable car? It’s much cheaper. Sell the new one.

Impulse Purchases – you won’t have to look far around your house to find things that you bought just on an impulse and really do not need. Think before you spend.

Credit card charges – if you are charged every single time you use your credit card, why are you still using it?