Bankruptcy can happen to anyone, whether you have education debt, had a stressful divorce with lots expenses or even just too much credit card debt. It is more common than people think. Money stresses are everywhere and you can’t escape it, so we are here to give you some advice on how to get a fresh start after bankruptcy or even just how to avoid money mistakes!
Seek Financial Help – Ask Questions, Don’t feel guilty and remember you’re not the only one!
There are plenty of money savvy people out there, whether its their profession or they just enjoy keeping track of money and have good advice. Find one of these people, ask them questions, there is no such thing as a stupid question – especially when it comes to money! Don’t feel guilty or ashamed to need help with your finances, it happens to everyone at some point in their lives and its a common thing. Seeking help with make you smarter with your money and help keep from getting into sticky situations!
Check your Credit Score – it may not be 100% accurate but keep an eye on it.
It doesn’t hurt to keep a look out at your credit score every now and again. The numbers may not be accurate but it helps to know roughly where you’re at! Knowing your credit score will allow you to see where you may or may not have gone wrong and you’ll have knowledge when you go to get a car loan or a bank loan!
Make Short Term and Long Term Financial Plans – it good to keep a look at the now and the future.
Keeping a plan of your budget is always good, you can see where your spending and make sure you know where all your money is going to. Making plans can help make you smarter with your money and keep you from making mistakes down the road.
Get Small Credit Cards – Then make sure you make ALL the payments on time.
Having a small credit card or even two, that you pay all the payments off on time can help rebuild your credit if you went through bankruptcy but can also help build your credit if you have non! Building your credit and making good payments on them will help for when you need to go for something bigger, like a car loan or even a mortgage! Make sure you’re always making your payments and working to build up your credit constantly.
Keep a Budget – Then make sure you stick to it
Keeping a budget of all your spending is the perfect way to make sure you don’t over spend but still live your life and enjoy every now and again! Live by your means, don’t spend money on something you don’t need, keep track of your monthly income and where your bills are! keep a plan on your fridge, in your phone or a diary – anything to keep track of your budget!
When trying to rebuild your credit it can be stressful and hard to be back on your feet, it feels like you just keep getting knocked down and never get a chance to stand back up! At Auto City we know it can be hard to rebuild or even start from scratch with credit, but keep our little steps in mind and hopefully it will allow you to be back to normal!
