Build Back Better

December 2, 2020

At some point the great lockdown must end, when it does it will be time for you to put your life back together both socially and financially.  Now is a great time to reflect on some of the good things we have learned during the lockdown.  For instance, shopping smarter, being less impulsive, staying closer to home and travelling less and using credit less often. 

If we can modify our lifestyles to carry on living within, or at least closer to, our means (what we have available) we will be able to prosper and get back to relative normal sooner.  We all need to make efforts to be better informed, and to make better decisions based on (that) good information.   Shop smart, don’t use credit unless you really have to, pay it off at your earliest convenience.

Use clip and save coupons and price matching apps to get better deals.  Don’t shop for groceries when you are hungry.  Buy things you need rather than things you want.  Don’t sacrifice quality for price if the price difference is not out of reach – quality goods last longer and can save money in the long run.  Make sure you budget for annual expenses like Christmas gifts, for example, if you spend $1,000 at Christmas it is easier to set aside $80 per month than try to find $1,000 all at once.  The same holds true for other periodic expenses such as car repairs or clothing purchases. 

You can build back better and faster if you are not carrying the burden of excess debt.  Filing a bankruptcy or a proposal can give you relief and free up cash flow as you start to get your finances back in order.  Call us for more information:  519-646-2222

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