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If you are drowning in debt, and can’t seem to make ends meet, personal bankruptcy may be an option for you. However, in order to benefit from debt relief, it’s wise to reevaluate your situation and make some changes.

What is creating this emotional and financial downward spiral? It’s important to be honest. It’s important to focus on the big spending items. What are the absolute needs that must be met. It is crucial to accept the difference between needs and wants. What can you live without, or dramatically pare down?

If you don’t seem to have enough money to pay for the necessities of life, it generates a lot of stress, anxiety, and often depression. How do you cope?

Coping begins with being realistic. You need to be realistic about the money that is coming in and what payments you must meet monthly. Take a good look at your spending habits. Set goals for buying the essentials and stick to it.

Along the way, strive to envision the debt you have gradually being reduced. This will reduce the stress bit by bit. Try to remain positive. It helps if you are working along with other family members to support, encourage, and hold each other accountable.

Also, try and be practical by cutting out frivolous costs. They may not seem like much, but little by little they can really add up. Eating out less is one biggie, or if you do go out, choose lunch time. It is generally less expensive. Many places have specials on different nights, or different times of the day. For example, movies. Try to catch a matinee instead of an evening show.

When it comes to groceries, check the flyers for weekly sales. Let this help in planning meals. Also cut coupons. Absolutely have a shopping list and stick to it no matter how tempting those end cap signs might be to influence what you put in your cart. Store brands are often offered at a lower cost. Also, as you compare costs, look at the sign by the item and check out the price per unit. This clearly shows what is a better deal.

You can also cut costs within your home just by turning off lights that aren’t needed. Not only that, but unplugging items can actually save you money. Just because something isn’t turned on, if it’s plugged in it still has a cost to it.

Investigate your utility company too, either online or by phone. Inquire about peak and off-peak times. Many companies actually charge you more during those peak times. It can really add up in the long run if you use the dishwasher, laundry, vacuum, computer time, etc. during off peak times.

Stay mindful of the numbers, the debt getting smaller. Let this lift your spirits. It takes time, but time will always be passing. Let it take you to a better, more peaceful mindset.

Personal bankruptcy won’t solve all your debt problems but offers a chance for a new beginning. Hines Law can help you make an informed decision about your financial health and future. You will find the bankruptcy lawyers at our legal practice, compassionate and skilled at understanding the realities common to debt relief.

We have five locations throughout Massachusetts, including Framingham, Westborough, Leominster, Watertown, and Worcester. Call today to set up your appointment 781-277-0411.