If you fail to plan, you plan to fail:

Most bankruptcies are a result of an unforseen event such as divorce, illness or the loss of employment. The problem with that statement is that “unforeseeable” events are all but unforeseeable. Yet, most people fail to plan for life’s “What Ifs,” i.e., “What if I lose my job?” or “What if I get sick and can’t work?” and that’s the real problem.

One of the most common mistakes we encounter in our office is people’s tendency to spend more than what they earn. In order to try and avoid making this mistake it is important that you anticipate life’s “What Ifs” and limit your access to credit. When you are considering making a purchase or feel as though you absolutely “need” a particular item, try to wait until you can do so outright, in cash. This will lead you to spend less money. Ideally, you would only use credit for big ticket items, i.e., for the purchase of a home or vehicle, and even then only if you can comfortably afford to make the monthly payments. Another great way to plan for life’s “What Ifs” is to give yourself some room to breathe should something unfortunate indeed happen to you. We suggest having 1 to 3 months worth of your living expenses in savings.

Easier said than done? Yes and that’s why we’ve been in business for well over 20 years helping people like you and me get a fresh start. Call our office and receive a free no obligation consultation; Freire & Gonzalez, P.A. (305) 826-1774.


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