And the NUMBER ONE way to avoid bankruptcy is . . .
Prepare a budget and stick to it! Most of my clients are unaware of their spending habits. By tracking your spending on a daily, weekly, monthly, and even annual basis, you become more aware of how much money you have – or don’t have. You can designate one person in your household as the bill payer but make sure everyone is aware of the budget. If the bill payer isn’t the grocery shopper, the grocery shopper still needs to be aware of the maximum spending allotted for groceries. Remember, wealthy people spend less than they make. The middle class spends as much as they make, and lower income individuals typically spend more than they make. Being rich or poor doesn’t have as much to do with income as it does with spending.
For more information on bankruptcy, please visit www.kansascitybankruptcyfirm.com/ or contact your Kansas City Bankruptcy Lawyer, Betsy Lynch at 816.434.6616.