1.Make a budget. Compare your monthly expenses against your income and set priorities for spending and saving. “It’s always better to control your money rather than letting it control you.”
2. Learn to love cash. One of the benefits of bankruptcy: Many people who’ve been through it develop a “depression-era mind-set,Taking Control of Your Personal Finances.” “And that’s not a bad thing.” The result: You pay with cash, buy only what you need and save more.
3. Pay all your bills on time. Even the small ones. “The phone company and the power company are two creditors that most people don’t realize are creditors“.
4. Watch your credit report. You’ve been through a bankruptcy to get a clean slate, and you need to make sure this is accurately reflected in your credit reports. You also want to take control of your finances and start making some smart moves, which means monitoring your report regularly for errors.Most people are scared of credit and finances because of the numbers, and they don’t understand it.But you ought to know what people are seeing when they look at you.
5. Get a credit card.The best way (to establish good credit) is to get a credit card. It’s ironic because the best way to help yourself is also the best way to damage yourself.
