While filing for bankruptcy may help you start to reclaim your life in New York, it is better to go one step further and pinpoint what led to your filing for bankruptcy in the first place. Maybe your financial woes were due to emotional spending.
If you feel this is true, look to Experian to learn how to curb your emotional spending habits. Do everything you can to change your relationship with money for the better.
Keep track of your spending
Look back at old bank statements over the years leading up to bankruptcy. Do any purchases strike you as unnecessary or impulsive? With an in-depth study of your spending habits, you may see there are certain times of the month or week when emotional spending is more likely.
Recognize what kicks off an emotional purchase
Are there specific events or triggers that lead you down the road of emotional spending? Such triggers could be a specific mood, recurring event or even a person. Figure out strategies for overcoming those triggers in ways that do not involve spending money.
Make impulse buys more difficult
Tweak your computer settings so that you have to enter your credit or debit card number every time you want to make a purchase, instead of your browser retaining and auto-filing that info. Get rid of apps and notifications that encourage you to spend money you do not have. Put roadblocks in your way to curb your spending.
Wait a couple of days before making an impulse purchase
Rather than putting something into your online (or physical) cart and immediately buying it, give yourself two days to think it over. During that time, use the above tip and ask yourself if one of your triggers led to the impulse to buy something.
This information is only intended to educate and should not be interpreted as legal advice.