When debt becomes overwhelming, Chapter 7 bankruptcy, also known as liquidation, can feel like a potential lifeline. The process involves turning most of your personal property over to a court-appointed trustee. This trustee then sells the property and uses the money to pay off some or all of your debts. While you can keep certain exempt property, hanging onto secured assets like your house or car requires a big commitment.
When you hear the word bankruptcy, you might think of wiping the slate clean entirely. But Chapter 13 bankruptcy works a bit differently—it’s more of a reorganization. Instead of erasing all your debts, you work with the court to create a repayment plan. You’ll have to submit a detailed proposal outlining how you plan to pay things back, complete with a thorough budget. Be prepared for scrutiny, as a judge, trustee, or creditor can challenge your budget if they feel it’s filled with non-essential spending.
When we talk about debt, credit cards usually steal the spotlight, and for good reason. But they’re only one piece of a much larger puzzle. Getting a handle on other kinds of debt is crucial for making smart financial choices, protecting yourself from predatory practices, and steering clear of bankruptcy. Navigating the world of debt can feel like a constant , but understanding the landscape is the first step toward winning.
Feeling like you’re in over your head with debt is an overwhelming and isolating experience. You might be losing sleep, worried about how you’ll ever get out from under the weight of it all. The good news is you’re not alone, and with a solid plan, you can regain control. This is especially true when you're focused on goals like , as financial stress can derail your progress. Strong and entrepreneurs starts with tackling existing debt.
There’s no denying it—credit cards are incredibly convenient. They let you buy things online, reserve a rental car, or handle an unexpected expense without carrying a wad of cash. But if you’re not careful, that convenience can become the single biggest obstacle to your financial goals. To make credit cards work for you, not against you, you need to understand how they really operate.
Most of us have a checking or savings account, but we rarely stop to think about how our banking choices actually affect our bottom line. Getting smart about how banks operate can save you a surprising amount of cash. The truth is, your current banking setup and habits might be costing you more than you realize, especially if you're running a and need to watch every dollar.
Let’s be honest, the word “budget” doesn’t exactly spark joy. For many, it brings up feelings of restriction, sacrifice, and penny-pinching. But what if we reframed it? What if a budget wasn't a list of things you have, but a roadmap to getting what you truly want? The reality is, your odds of reaching major financial goals without a plan are pretty slim. It requires some effort, but the payoff is huge.
Every successful company has a plan with clear short- and long-term goals. If you want to achieve financial success, especially when you're , you need one, too. The first step is figuring out where you stand financially today. From there, you can decide what you want for your future and map out exactly how you'll get there.
Brené Brown once wrote, “Owning our story can be hard but not nearly as difficult as spending our lives running from it.” And man, am I tired of running. For most of my life, money has been a topic I’ve run from. It’s been a source of trauma and anxiety, rarely representing anything positive. When it did, it was usually just a temporary illusion I’d built to fool myself.