Don't let the new year create new debt and problems in your life. Create a personal/family budget in a spreadsheet as your New Year's resolution.
1. Start with your net income.
2. Next, track your spending over a month or two. Try and use cash or make sure to pay off any credit card balance each month. Too much card use can promote overspending.
3. Estimate your excess income each month. If there is no excess or not enough, take a look at your spending and find places where you can cut back or change (plan out meals weeks in advance and buy store brands/use coupons, eat out less, eliminate unnecessary or impulse spending, change phone plans, etc.) .
4. Make a plan and create a savings account for emergencies and future wishes such as vacations. Adjust spending as necessary each month and continue to records and monitor.If you feel that you need a clean slate before creating your budget, call us at 843-839-9995 for your free bankruptcy consultation!