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21 Sep 2012

Colorado Springs Bankruptcy Lawyers: Break Bad Money Habits

A Colorado Springs bankruptcy is generally the result of circumstances beyond one's control: divorce, lay-off, medical crisis, etc.

However, our Colorado Springs Chapter 7 bankruptcy attorneys recognize that almost everyone can benefit from delving into their financial habits and breaking a few bad ones.


This is especially important for people after they have had a bankruptcy discharge, as this will be key to re-establishing credit.

Some of the biggest bad money habits include:

  • Not having a budget. You will find it impossible to pay your bills in full, on time - not to mention put some away in savings - if you don't know how much you have to work with. Take the time to write out your budget and track your monthly expenses. You may be more comfortable with the old-fashioned, pen-and-paper route, or you may find it easier to use free online services and programs.
  • Consistently overspending. This typically happens when you arrive at a store without a very specific idea of what you plan to buy. This goes for everything from grocery to home goods to clothing. Go in with a list. Budget for your purchase. Stick to your list.
  • Paying retail. Sometimes, you can't avoid it. But in many situations, there are options for you to cut corners on cost. Maybe you're eligible for a senior discount. Check out the weekly ads before grocery shopping. Use coupons. If you are using a credit card, use one with rewards. Find out if you can earn cash back if you do your shopping online.
  • Indulging in impulse buys. If you see something and buy it without thinking twice, it's probably something you don't need and can't afford. If you can establish a 48-hour waiting period on any item over a certain amount - say $50 -that gives you a chance not only to evaluate whether it's necessary, but whether you can afford it and also whether you may be able to get a better price somewhere else or by waiting a week or two.
  • Having lowered financial expectations. Just because you have undergone bankruptcy does not mean you can not make you dreams a reality, whether it's purchasing a home or moving across the country. You simply have to be calculated about it. It may not happen within the first year after your discharge, but with careful planning, there is no reason to think it couldn't happen shortly after that.
Stephen H. Swift

Managing Attorney
Law Office of Stephen H. Swift, P.C.

Client Testimonials

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    "My attorney (Matthew Hansen) is a very kind person.  I felt very confident in his skills. He is very knowledgeable and efficient.  He didn't make me feel embarrassed to be filing for bankruptcy.  Thank you Matthew!  Laura was very friendly, and everyone I interacted with was very nice and helpful as well." 

     

      –  Sherry M., Colorado Springs, CO

     

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    "Steve explained things well so you know what you're doing.  The staff was very helpful with everything, including the paperwork." 

     

      – Raymond & Rhonda P.,                         Colorado Springs, CO

     

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    "From the first time that I entered the office, I was treated with the utmost respect. It was like I had been knowing all of the employees for years!! Every person that I came in contact with was extremely courteous!!!

    I rate my overall experience a 12!! And I wouldn't change a thing on the website.

    Cris is absolutely wonderul!! While Alicia was extremely courteous and humorous!!!  Stephen (Swift) was extremely professional and courteous. One of the nicest gentlemen that I have Had the pleasure of working with. I can't thank him enough."
        

      – Pete, Colorado Springs, CO  

     

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    "Upon my first visit to the office, I was in an unfamiliar part of town.  I was also bewildered and experiencing anxiety.  I was not even sure I should be there or how to proceed in a very new situation where my back was against a wall.  The first person I met in the office was the lovely receptionist.  I have to say that she has the absolutely right demeanor and is extremely successful in her position.  She has a slight but comforting smile and persona.  She is confident but not arrogant in processing the needs of clients.  I do not feel that this is a small achievement in any way.  I feel this person in many ways sets the tone for the office as the gate keeper of the office and emotional clients.  She definitely helped me thru this process with her silent and dedicated service to me, the clients and the office."

     

    John C., Colorado Springs, CO

     

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    "Upon entering Steve's office, one immediately knows they have entered his "zone".  Steve will talk, think, contemplate, then act.  He then spins his chair around, garbs paper, types on the computer and zaps something thru the printer.  Occasionally, a document needs to be scanned or something else from outside the office is needed, and Zap someone appears without having to yell down a hall or call out.  There is definitely a team here that is in sync.  There may be a question out of the blue suddenly or a brief conversation about something else.  The whole time, Steve is on point.  I felt from day one, a trustworthy confidence in placing my future in his hands.  I was not wrong.  I also never once felt rushed, brushed off or that my concerns were not his.  I felt that Steve is in this for me and his clients.  I have a debt, gratitude and confidence in Steve and the Swift team that far exceeds the fees pain." 

     

      – John C., Colorado Springs, CO

     

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    "Thank you to everyone who worked on my case.  My driving priviledges are now restored and I have a fresh start.  I am very grateful to the Swift Law Firm!   Everyone was very kind and helpful and easy to talk to.

    Ward was very knowledgeable and knows the pros and cons of your case. Definitely a man to listen to concerning your case, and he was very helpful!

    Matt Hansen is a good man, very helpful, gives good advice  AND he is willing to go the extra mile.  Steve Swift is a man of action who knows his profession.  He lifted a heavy burden, and I cannot thank him enough for an excellent job!"  

     

      - Henry R., Colorado Springs, CO  

     

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