WHAT IS BANKRUPTCY? Bankruptcy is extremely stressful and can affect your mental health, marriage, and even your physical wellness!

HOW TO AVOID BANKRUPTCY! If you have read the above, and you want to avoid bankruptcy, there are a few steps you can take to make a plan and get out of debt.

STEP 1:  SET YOURSELF UP, SO THAT YOU NEVER FEEL THIS WAY AGAIN. – Cut up all of your credit cards – Vow to never go in to debt again

STEP 2:  LEARN TO BUDGET – Learn how to tell your money where to go each month. – You can head here to learn how to budget for beginners

STEP 3:  SAVE UP FOR A SMALL EMERGENCY – We follow Dave Ramsey’s recommendations of saving a small $1000 starter emergency fund while we are working on paying off debt.

STEP 4:  MAKE SURE TO REPLENISH YOUR EMERGENCY FUND – Make sure you replenish your emergency fund when you have to use it!

STEP 5:  DEVELOP A PLAN TO PAY OFF DEBT FAST – Now that you know how to budget, and cover small emergencies, it’s time to tackle the debt.

STEP 6:  INVEST AND CHANGE YOUR FUTURE – Once you are debt free, your work is not quite done. – Continue to be intentional with your money.