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Living The Simple Life After Bankruptcy

Whether you file for Chapter 13 bankruptcy or Chapter 7 bankruptcy, your life after it is all said and done will have be a simpler one. And that's a good thing. While it might mean fewer trips to restaurants and fewer walks through the mall, it also means a life more free of constant financial worry and fear. After a bankruptcy, you should guard against future financial trouble and rebuild your credit - both require a slimmed-down lifestyle that focuses on the simple things in life.

Here are some tips for living a no-frills lifestyle in the wake of a bankruptcy:

· Look at your personal budget and pinpoint where you can cut back or save money. Do you need both a landline and a cell phone? Could you eat out once a week instead of twice? How hard would it be to downgrade to basic cable? How hard would it be to transition to a one-car household?

· Look at how you spend your time, and realize that some of the best things in life don't cost money. Could you trade your baseball tickets for a game of catch in the back yard? Could you trade your walks through the mall for a hike in the woods? Could you trade a night in a restaurant for a family dinner around the table?

· Focus on relationships, not things. It's easy to feel depressed in the wake of a bankruptcy - you may have lost confidence in yourself and might even feel shame. Instead of mourning your temporary inability to purchase things, focus on the people who love you and who have stood by you during your tough times.


Many of those who declare bankruptcy aren't irresponsible with money - in most cases, they were simply faced with a financial emergency and a lot of bad luck. Bankruptcy isn't the end of the world - in fact, it may be an opportunity to restructure your life around non-material things and find what is really important to you.

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