If you’re facing high debt levels and considering bankruptcy, you may be wondering how you got here. You don’t have medical issues. You don’t have student loans. You didn’t lose your job. These are all common reasons that people find themselves unsure of how to make their finances work, but you feel like you’ve simply been overspending. 

It’s very common. We live in a consumer-driven society. People are constantly told that they need the newest car, the biggest house, the nicest clothes. They’ll pay far more than those things are really worth just to stay on top of the trends. 

If that’s what pushed you toward bankruptcy, you need to think about how to reduce your spending after you file. It will be time to rebuild your credit or, with Chapter 13, pay off your debt on the repayment plan. Your budget has to work.

 Tips for reducing your spending include:

1. Avoid impulse purchases by sleeping on any decisions.
2. Think about the time it would take you to earn the money you’re going to spend. Is the purchase worth that much of your time?
3. Buy things with cash, rather than on a credit card. 
4. Plan ahead so that you can avoid buying things like food, coffee, etc. 
5. Don’t bring your credit card everywhere that you go. 
6. Invest time in the items/hobbies that you have. Rather than buying a new guitar, for instance, spend more time playing the one you have. 
7. Ask someone else for their input before making big purchases. 
8. Track out all of your spending so that you don’t accidentally overspend. 

These tips can help, but you need to know how to use bankruptcy to get a fresh start. If your debt has become overwhelming and you simply can’t keep up, it may be time to talk to a bankruptcy attorney about your situation.