When we get to financial pitfalls.

I've harped a LOT on finances. That's how this whole blog got started. I decided to begin couponing (which has saved me HUNDREDS, if not THOUSANDS already), and I wanted to write about my husband and my journey through getting out of debt and building wealth for the future.

In this day and time bankruptcy is at an all time high. People are having a harder time mantaining their lifestyle since the cost of living has gone up. We've talked about getting an extra job for additional income, "snowballing" your debt payments, and working on a savings.

But sometimes, it IS too late. What is a person to do? I think the first step comes from getting educated. Knowing your options.

Maybe you should consider taking a online bankruptcy course. Obviously bankruptcy is scary, but in a lot of situations it is the only way to get that clean start. It's important to know all that you can so that you make the best decision. You need someone to talk to and get advice from on how to handle your financial future. Taking a bankruptcy class online or a credit counseling course. Getting educated is the BEST thing you can do and the first thing that you should do.

Take the time to know your options.

If you do decide that bankruptcy is right for you then you need to get a few things in order.

*Find out the cost. You will need to begin saving for that.
*Figure out your total debt. Compare with your income. (Debt to income ratio.)
*After doing that decide if you DO have an option of lowering some other bills to help cover your credit card bills.
*Don't do anything until you have taken a course to help you understand the process.

It's scary financial times out there right now. Guard yourself, and make wise financial decisions for your future. If you do have to file bankruptcy it is NOT the end of the world, but it is a new chapter. And it's a chapter that some people have to turn to. Be prepared to make changes in your life so that you don't fall into debt again.