Budgeting Tips-Life After Bankruptcy
I, Walter Metzen
will provide, free of charge as part of your free initial Bankruptcy Analysis, a
means test calculation to determine if you are eligible for Chapter 7
Bankruptcy. Nearly 90% of the people who walk through my door are eligible
to file a Chapter 7 Bankruptcy
and get a permanent discharge of their debt. With
Bankruptcy in Michigan
, we can develop and affordable repayment plan to
fit every budget.
Contact me, Michigan bankruptcy attorney
Walter Metzen to learn more about how I can help you get a Fresh Financial
and Techniques For Successful Budgeting
- Learn to do simple repairs.
- Do your own decorating.
- Do your own painting.
- Turn down the furnace to lower the temperature
- Save newspapers, glass and cans for recycling.
- Plan meals to use a minimum of food.
- Shut of lights, computers and TVs when not in
- Carry only replacement value insurance on house.
- Conserve water.
- Make only emergency long distance calls.
- Stand up when talking long distance or use a
- Write letters or use email.
- Give up all unnecessary services on your
telephone (i.e. call waiting).
- Improvise furniture, shop the paper or garage
- Use worn out towels to make wash cloths.
- Use glass instead of paper cups.
- Make your own cleaning supplies.
- Use washable dust and dish rags.
- Equip the house with storm windows and doors, if
- Pack a Lunch - "Brown Bag" as often as possible
($5.00 a day saves $25.00 a week: $100.00 a month)
- Cut down on meals away from home.
- Avoid the morning cup of coffee at the coffee
shop or gas station (this expense really can add
- Consider generic or bulk foods.
- Take advantage of seasonal specials, especially
- Do more cooking from scratch.
- Use crock-pot methods to cook less tender cuts
- If storage permits, buy in quantity if cheaper.
- Preserve food when feasible.
- Grow a garden.
- Stretch hamburger with bread crumbs, oatmeal, or
- Avoid buying snack or "empty calorie" foods.
- Use equally nutritious reconstituted dry or
evaporated milk, for cooking instead of more
expensive whole milk.
- If space permits, store products in freezer to
- Cook only as much as will be eaten unless it can
be a part of another meal.
- Use leftovers in soups and casseroles.
- Limit food shopping to once a week; the less
trips to the grocery store the better.
- Plan menus in advance for your shopping trips.
- Use coupons for items, you regularly buy.
- Make a grocery list, and use it!
- The best car is one that is PAID FOR!
- If the car is paid for, you don't have to have
full coverage insurance, just PLPD
- Use public transportation.
- Get rid of one car.
- Consider moving closer to work.
- Drive small cars that cost less to operate.
- Do your own maintenance (change the oil
- Car pool.
- Sew as much as practical, repair, remodel.
- Buy clothing that is washable.
- Carefully coordinate.
- Launder carefully.
- Hang on clothesline to dry instead of using a
- Organize laundry so that a minimum number of
loads are run.
- Use detergent that works well in cool and warm
- Mend clothes promptly.
- Have children change to old clothes for rough
- Do not buy clothes that require dry cleaning.
- Buy clothing that does not need ironing.
Health and Medical
- Service nutritious meals.
- Follow safety rules to prevent accidents.
- Have regular check-ups.
- Carry only one health and accident insurance.
- Investigate services offered by the health
- Use immunization clinics.
- Develop good health habits.
- Stop using tobacco, alcohol and/or addictive
- Learn to take temperature, pulse and
- Learn about symptoms of common diseases in order
to determine if seeing a doctor is advisable
- Use the public library for reading materials.
- Subscribe to only one newspaper, or none at all
(find one in the lunch room).
- Cut out subscriptions to magazines that
- Study to improve your qualifications for the job
- Develop skills to enhance your position.
- Make your position more secure by being a
- Use washable uniforms.
- Share transportation.
- Let your boss know you are interested in
- Investigate government or church operated
- schools that are operated for children of low
- Share child care responsibilities with a friend
or neighbor (or spouse).
Gifts and Donations
- Carefully consider each situation and cut out
all monetary giving that you possibly can.
- Make gifts instead of buying them.
- Give or your time instead of your money.
Recreation and Entertainment
- Do family things together that are in
- Consider the costs or habits such as smoking.
- Attend high school and sports events instead of
more expensive college and pro events.
- Have potluck affairs at home.
- Take vacations at home.
- Use public parks and picnic areas.
- Eliminate cable TV.
- Select cosmetics that are reasonably priced.
- Do your own shampoos, sets and blow dries.
- Cut children's hair yourself.
- Set reasonable amounts for children's allowances
and have a definite understanding of what the amount
is to cover.
- Carry only pocket change needed for bus fare and
- Determine your saving goals.
- Be willing to compromise.
- Use payroll deductions for savings.
- Save bonus income.
- Keep your loose change for savings.
- Save on a regular basis: pay yourself first.
- Alter your spending habits
- Use savings for emergencies only.
- Make saving a family affair.
- Put your budget on a diet!
- Have a qualified attorney evaluate alimony or
child support payments.
- Consider all costs to determine if family really
profits from two incomes (i.e. is daycare actually
eating up the entire second income?)
- Reduce pet care expenses by doing your own
Ways to Save Money at the Grocery Store
Clipping coupons and comparison shopping are
great ideas, but there are so many more ways to
save money at the grocery store. Empower
yourself with a little knowledge, take a little
extra time to look around instead of just
reaching for the same products you buy week
after week, and take the time to think about
what you are purchasing. Here are ten tips to
help make your next trip to the grocery store a
money saving success.
- Shop from a list. I can't
emphasize this enough. Take the time to
think about what you need to buy before
leaving home. If you shop weekly, write down
the meals that you have planned for the week
and then make a grocery list based upon the
ingredients needed to prepare those meals.
When I make a shopping list I usually walk
myself through it in a way that makes sense
to me. First I think about what I will need
for breakfast throughout the week. Then I
think about lunch and dinner. I use my
weekly menu for the ingredients I need for
dinner. Next, I think about beverages,
snacks and, finally, household items such as
cleaning supplies, laundry supplies and
toiletries. When you get to the store stick
to your list with the one exception being
- Stockpile. When you see an item
that you use on a regular basis on sale for
a great bargain price, stock up on it. You
may spend more money this week, but in the
long run you will save. For example, if
toilet tissue that regularly costs $1.50 per
package is on sale for $0.75 per package and
you purchase ten packages, you will be
spending $7.50 on toilet tissue this week
instead of the $1.50 that you would have
spent to purchase just one package. However,
over the course of ten weeks, if you would
have purchased one package each week, you
would have spent $15.00 on toilet tissue.
You have just saved $7.50. Not to mention
the fact that you can now cross toilet
tissue off of your grocery list for the next
nine weeks or until the next time a really
good sale comes along and you can add to
- Don't shop on an empty stomach. I
am sure that you have heard this one before,
but it works. If you shop when you are
hungry you are far more likely to purchase
impulse items. Eat before shopping and stick
to your list.
- Calculate. Unless you are really
good at math, it is a good idea to bring a
calculator with you to the grocery store.
Different manufacturers can sell the same
product in different quantities. In order to
determine which brand is the best deal, you
must determine the price per unit. For
example, if Brand A sells their tomato paste
in a 6 oz. jar for $1.00 per jar and Brand B
sells their tomato paste in an 8 oz. jar for
$1.15 per jar. You would need to determine
the price per ounce. Brand A is charging
approximately $0.17 per ounce and Brand B is
charging approximately $0.14 per ounce. So
even though Brand B costs $0.15 more than
Brand A, Brand B is the better bargain.
- Don't be tempted by coupons.
Coupons are a fabulous way to save money on
products you use, but if you don't use the
product, don't buy it just because you have
a coupon for it. I don't care how much money
you could save, you will still be spending
more than you would if you didn't buy the
product at all. Save your coupons for the
items you need and use.
- Don't be a name brand snob. I
remember the day, years ago, when I was
having a conversation with a friend about
how expensive laundry detergent is. During
the conversation, I confessed to never
comparing prices. I simply walked into the
laundry soap aisle and reached for my
favorite name brand without giving cost a
second thought. My friend told me I was
wasting a lot of money and suggested that I
give her, lesser advertised brand, a try
since the cost was about one-fifth the cost
of my name brand. I tried it and I found
that it was just as effective. I have been
buying it ever since. When you buy a name
brand you are helping to pay for that
company's advertising. The more a brand is
advertised, the more expensive it will be.
Do some experimenting of your own. You just
might find a cheaper, but just as effective,
- Don't assume that the store brand is
always going to be the cheapest. While
you should try to save money by avoiding
costly name brand products, you should not
always assume that the store brand is going
to be the cheapest. You need to comparison
shop. There may be a name brand option on
sale that week which winds up costing less
than the regular price of the store brand.
Always buy the best deal.
- Look around. Stores place the
items they want you to buy at eye level
making them easy to see and grab. Be sure to
look up and down when you are comparison
shopping. You may find the best bargains on
the highest or lowest shelves. These are the
bargains that the stores may not want you to
find so they place these items in the
hardest to see locations.
- Don't be fooled by end caps.
Stores often place attractive displays of
certain items on the end of the aisles with
brightly colored sale signs. They do this
because they want you to believe that they
have gone to the trouble to make this
bargain known to you. The reality is that it
is a marketing tactic and there is a reason
that they want you to purchase that item.
Stop before automatically grabbing anything
from an end cap. Go to the aisle where that
item normally lives and compare prices. You
will probably find that it is not, in fact,
the best deal.
There is another way to save money, or,
should I say, make money, on your groceries. You
should only give this method a try if you are
disciplined with your finances. Credit card
companies are battling each other for you
business. Many companies are offering cash back
incentives and most of these include cash back
on grocery purchases. I currently use a credit
card that gives me 6% cash back on all of my
grocery store purchases. If you are disciplined
enough to pay your credit card bill in full
every month so as not to incur finance charges,
by all means, pay with plastic and reap the
Keep these tips in mind when you are at the
grocery store and watch your savings add up.
Tips to Organize Life is the
website that provides shortcuts,
tips and tricks to help you get
things done faster and better.
Tips to Organize Life focuses on
all aspects of life, including
organzing your home, cooking,
entertaining, money management,
gardening, planning for
emergencies and more.
Contact me, bankruptcy attorney
Walter Metzen to learn more about how I can help you get a Fresh Financial
Obtain a copy of your Credit
Report after your
Michigan Bankruptcy Filing
and check it for Mistakes.
Contact me, bankruptcy attorney
Walter Metzen to learn more about how the new Chapter 7 bankruptcy law
may affect your case. I offer a free initial consultation so we can
discuss your case personally.
are a Debt Relief Agency helping people file for bankruptcy relief
under the Bankruptcy Code. Let us help you decide if bankruptcy is
right for you.