Chapter 13 bankruptcy allows you to get control of your finances once again. Budgeting is crucial in this case, as you must adhere to the repayment plan provided by the court or your bankruptcy may be revoked. Because sticking with a budget can be difficult for even the most well-intentioned people, The Balance offers the following helpful tips to ensure a bright financial future ahead of you.
If your budget is too strict you may be setting yourself up for failure. It's unrealistic to say that you're going to stop all non-essential spending, as very few people can actually live a life of such austere means. Instead, occasionally treat yourself to things like dining out or going to the movies as a reward for keeping to your budget. Just make sure that you're not constantly spending money on non-essential purchases, such as a daily cup of coffee.