Bankruptcy can be a stressful and disheartening process for people who are having financial difficulties. It is especially difficult for those who live in New York City, where the cost of everything seems to be a little higher than other places. The bankruptcy process requires the debtor to become accountable for how all money is spent, whether through investments, monthly bills or living expenses. A change in lifestyle is often in order, which can be daunting. Here are a few money management tips for those contemplating or living through bankruptcy in New York City.

Eat At Home
While some of the world’s best restaurants are in New York City, they are also some of the most expensive. It is cheaper to buy groceries at the store and cook at home. Consider some of the favorite meals that the family likes to order while in a restaurant and chef them up at home. If there is not an accomplished cook in the house, consider meals that are partially prepared from the grocery store. A fun alternative may be to request a video cooking lesson set for your next birthday or holiday gift or watch some cooking shows on TV to learn. Instead of stopping for coffee on the way into the office every morning, brew it at home.

Transportation
While taxicabs are easier and usually faster to get around the city, consider walking or Cialis Professional taking the subway instead. Not only is it less expensive, it is healthier. Another option may be to have the cab stop four or five blocks away from the destination. Get out and walk the rest, especially if there is traffic. The extra few dollars every day add up.

Bills
When possible, pay all bills on time and in full to avoid late fees and accruing interest. When there is not enough money to go around, pay the most critical bills first, including rent or mortgage and vehicle payments. For those in bankruptcy, paying New York bankruptcy lawyers is also wise so that debtors can be fairly represented and protected in the complicated bankruptcy process.

Spend Less
When shopping, buy what is necessary, not what would be “nice to have.” When purchasing necessities, consider the less expensive model rather than the name brand. They are often similar in quality and cost significantly less. This is especially true for groceries and household products. Turn off lights and computers when they are not in use for long periods of time. Do not run the washing machine or dishwasher for half-full loads. Remember, every little bit helps.

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Category: Legal
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