Have you found yourself in a hole of financial issues? Don’t give up! Here are some tips and tricks to dig yourself out of that hole!
No matter how good you are at budgeting and saving, something can always come along and throw you a curveball. It is seriously crazy how fast that emergency savings fund disappears when you really need it!
I have always been pretty good at managing my money and haven’t had to ask for much help financially, even as a child. I guess I’m just super cheap and don’t buy unnecessary things, well besides coffee; I CANNOT seem to give up that vice.
However; since having a child, I have realized just how fast money can disappear. Before having my son I never missed work, I worked through sickness and everything else that life threw at me.
But guess what? Daycares are super strict and won’t let your child attend with even the slightest fever. This means… lots of missed hours at work! Yay! Just missing those days your child is sick can seriously drain your savings! Unless you’re one of the lucky ones and your job gives you paid sick days!
So I guess what I am trying to say is, no matter how much you plan and save, you should always be prepared for the unexpected. Sadly that sometimes involves filing bankruptcy. That is such a scary word, isn’t it? Bankruptcy. It doesn’t have to be though! Not if you truly understand it and educate yourself on the options you have if you find yourself in that situation.
While I wouldn’t wish bankruptcy on anyone, you can overcome it and still get to a stable point finances wise eventually. You can find yourself filing for bankruptcy for a variety of reasons and you shouldn’t beat yourself up about it.
Situations such as divorce, job loss, disabilities, and so many other things can potentially lead to filing for bankruptcy. It is nothing to be embarrassed about and you have to remind yourself you can only move up from here on out!
First, you need to educate yourself on the different types of bankruptcy, as well as the potential outcomes and consequences. Some debts can’t be forgiven by filing for bankruptcy and it is important to have a strong understanding of all these factors before making a decision on what is best for you.
It’s also good to explore your other options and see if you can avoid filing for bankruptcy all together!
While I have never filed for bankruptcy myself, I feel a whole lot better having at least a bit of knowledge on the subject. Life can be crazy and it’s comforting to be prepared for a variety of situations.
I tend to stress less if I am prepared for every possible situation, which I know is impossible LOL. But you know how mom life is, we have to do it all! You can click here to learn even more about bankruptcy and your many options!