Bankruptcy is a somewhat traumatic experience. When it’s over, you need to prepare for the new life and avoid bad habits so you don’t end up where you did before.
Summer is a great time for implementing your new positive spending plans and learning how to more effectively manage your money following the bankruptcy.
If you’ve only recently completed the bankruptcy process, you may not have extra funds for summer trips or fun events. That’s all right! Consider this a clean slate year, and remember that it’s only one summer out of many. Then, commit to setting aside a specific amount of money each paycheck for next summer’s fun trips, events, and purchases. Spend some time online dreaming of next year, then write out your budget for those fun events. Once you know how much you need to save, you can have fun next year without going into debt–the perfect way to make the most out of your new clean slate.
Try Free Activities
Chances are, there are plenty of free festivals and other events in your area. The local library might offer free storytimes for kids in addition to plenty of great books and movies that your family can check out for free. Consult a local map or website and commit to visiting as many of the parks in your local area as possible. Get involved in local Facebook groups, where big events will be mentioned well ahead of time. Your local zoo may have a free or reduced-price admission day, or local museums may have free days to help draw in local traffic. When there are plenty of free events around, who needs to drop money on the expensive moments?
You’ve chosen your event carefully, and you’re ready to head out the door. Whether it’s a free event or you’ve budgeted ahead for a particular event, you already have the entry cost covered. Now, there’s just one more step: make sure that you know how much you have to spend while you’re there. From souvenirs at a theme park or zoo to overpriced food at fairs and festivals, you can quickly find yourself spending far more than you intended–especially if you’re simply swiping your debit card at every shop. Instead of overspending, budget for those purchases ahead of time and pull out cash to use at the event. If you’re afraid you’ll be tempted, consider leaving your card at home. That way, impulse spending can’t lead you to go over your budget.
Pack Your Lunch
Food is a necessary expense, right? Whether you’ve been out at the park and just need a quick lunch before you head out to run errands or you’ve spent the day at a festival and need to feed the kids, food is certainly essential. There’s just one problem: even fast food is overpriced compared to bringing lunch from your own kitchen. Fill up a cooler, pack a backpack, or toss a snack bar in your purse to help reduce food-related expenses.
Filing for bankruptcy doesn’t mean that your entire summer has to be a downer. In fact, you may find that removing unnecessary expenses from your summer can make it a summer to remember! Carolyn Secor P.A. focuses its practice in the areas of Bankruptcy and Foreclosure Defense in Clearwater, Florida. For more information, go to our web site www.BankruptcyforTampa.com or call 727-254-1704.