How to Manage Your 2021 Finances - From an Attorney

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 The Best Way to Manage Your 2021 Finances

From a Bankruptcy Attorney


After being a Bankruptcy Attorney for over 22 years, I have seen countless financial situations, each unique in their own way. Still, I have been able to advise my clients well using the following general "rules":


Be honest with yourself

Most people aren't aware of how they are doing financially until they sit down and evaluate them impartially. This often involves looking at your bank statements to see how much money you have coming in, and exactly where it goes. If you see large amounts of spending at fancy restaurants, shopping plazas, or the like - it's time to evaluate if this is sustainable for you and your goals in the long-run. 


Work Smarter, Not Harder

Most of the time, it's better to have 2 lines of credit at 25% or less of their limits, rather than 1 line at 50%. This is not advisement to open a lot of credit accounts, but rather a way to view your finances and/or debts from a different perspective. There are many books, blog posts (like mine), and websites that can give you free or cheap advise on how to play your credit game like the game it is. 


Consider Professional Help

If you are at the point where you feel overwhelmed by your expenses, and seem unable to keep up, no matter how frugal you are, it might be time for a bankruptcy consultation. These consultations at our office are free and do not always end with filing for bankruptcy. This is a meeting to fully understand where you are at and what your options are. Bankruptcy is often deemed as a negative experience, but in reality it's nothing more than a financial planning tool that can give you a clean slate and an achievable good credit score in as little as 12 months after filing.


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