Struggling with debt can be extremely stressful, especially if you believe that personal bankruptcy is your only option for relief. If you want to try to avoid filing for bankruptcy, you can start by making small changes to your finances. To potentially prevent personal bankruptcy:
- Pack your lunch. Purchasing lunch every day at a restaurant can quickly add up. To avoid this expense, try packing your lunch for you and your family members every day.
- Walk to work. Car payments, insurance, and gas are all expenses that may take up a large portion of your monthly budget. If you’re tired of paying for the high cost of commuting, try exploring your other options, like public transportation, riding your bike, or even walking.
- Use a disposable water bottle. The next time you’re thirsty, resist the urge to purchase a new water bottle. Instead, fill up a reusable one.
- Maintain an efficient household. Lights that are left on in unused rooms and leaky faucets mean that money is coming out of your bank account. By making your home more efficient, you will also be able to reduce your utility bills.
- Look over your insurance. Go over your home and auto insurance policies and look for areas that are unnecessary or that you could receive a discount on.
Although these solutions can help you with your finances, they may not make much of a difference if you are faced with what seems like insurmountable piles of debt. If you don’t want to file personal bankruptcy but feel that there isn’t another way out, let us help you explore your other options. Contact us at Morgan and Partners Inc. today for more information.