Having Problems Paying the Monthly Bills? HERE IS THE FIRST THING YOU SHOULD DO
No, it’s not giving up. We have all been there, whether you want to admit it or not. Find a quiet spot, sit down, and think about all of life’s blessings that you are grateful for. Once you have realized that it’s not as bad as you have made it out to be, it’s time to get to work. First, you need to take stock of your net monthly income and your monthly expenses. Start with your income. Everyone should know how much money they have coming into their household each week, biweekly or monthly. If you are married or living with a significant other, get them to join you at the table, tell them what you are doing, and add their income in as well. Again, we are looking for total monthly income at this time. Next, put in your fixed monthly expenses. Start with mortgage or rent, as it is usually your biggest expense. Then, add car payment(s) and what you believe you spend on food, electric, cable, cellphone, etc. Once you have all of the fixed living
expenses listed, move to the discretionary expenses like eating out, morning coffee at Starbucks, entertainment, etc. The last set of expenses are the luxury items that you could probably live without — for example, last Friday night when you went out to dinner and drinks with your friends. How much did you spend at the restaurant? What about gifts for your friend’s baby shower? How about the new pair of gym shoes? The purpose of this exercise is not to tell you that you have been foolish with your money; it’s the exact opposite. I want to show you exactly where all your money goes every month. I want you to squeeze each and every dollar to get the most mileage out of it. I want you to walk away from this exercise empowered, knowing that you are in control of your finances. If, after setting aside money for all your necessary fixed living expenses and variable monthly living expenses, there is no money left to pay bills, you should seek the services of a professional bankruptcy attorney immediately. If, on the other hand, you do have discretionary income, but you just don’t have enough to meet all of your minimum monthly payments on your credit cards, store cards, gas cards, or medical bills, you should still seek the services of an experienced consumer bankruptcy attorney to talk about your options. Bankruptcy should always be your last option, but, depending upon where you live, how old you are, your living situation, etc., you should definitely explore whether bankruptcy is an option and whether or not it’s the best option for you. If it’s not, great, you can now take it off the list and move on to your next best option.
–Carmen Dellutri
Last month we had ... • 27 referrals from friends, family, or previous clients • 26 returning clients for a new matter • 11 referrals from other attorneys • 6 referrals from other professionals in town • We sent out 73 referrals A Huge Thank-You to Our Referral Partners!
What’s the Good News ? “I will give them an undivided heart and put a new spirit in them; I will remove from them their heart of stone and give them a heart of flesh.” EZEKIEL 11:19
Get a FREE case evaluation!
2 | 888-889-8899
Made with FlippingBook Ebook Creator