Tuesday 27 December 2016

Seven ways to avoid personal bankruptcy

If you are having financial difficulty, and are possibly contemplating personal bankruptcy, that does not mean in any way you are a bad person. It happens to the very finest of people. It is not a reflection of your character. You are still of immeasurable worth, says the Founder of youneedabudget.com, Jesse Mecham.
He articulates seven ways to avoid personal bankruptcy, in this report.
Get a written budget

One way to avoid personal bankruptcy is to immediately get a written budget. You will need to get absolutely intense about your money.
 Money that is told what to do prior to its landing in your wallet will work harder, last longer, and keep your finances stronger than any other financial move you can make.
Sell your ball and chain
What is causing this extreme financial pressure? Have you purchased too much home? Is your house payment representing 40 per cent of your take-home pay (that is too much)? Do you owe money on any vehicles? Many times, personal bankruptcy can be avoided by people just taking a good, hard look at what they owe and why they owe it.

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