Establish an emergency fund with at least 3 months of living expenses set aside.
Be certain that household living expenses are less than total net household income.
Be sure to make regular payments, on time, for any loans you have reaffirmed.
Ensure that your first loan after bankruptcy is on a secured credit card.
Save for a rainy day.
Goals should be specific and in writing.
Goals don't need to be written down.
Goals can be specific or vague but they need to be discussed and written down.
Net income is "take home pay."
Net income is the amount left over after just income tax withholding are taken from your gross pay.
Net income is the total amount of money it costs your employer for you to work for them.
Net income only applies to people who make their living by fishing.
Money spent of literature and magazines.
Expected expenses that occur at least once a year but not every month.
These are the same as emergency expenses.
These are your regular monthly expenses.
Write a check for the emergency if you have overdraft protection.
Get a payday loan to take care of the emergency.
Try to set up a payment plan for the emergency expenses.
Pay for the emergency and worry about the rest later.
Money that is "left over" after all regular expenses are paid.
Money you can "waste" every month.
Money used for luxuries such as dining out at expensive restaurants.
Describes the condition when your regular expenses are larger than your income.
25% of your net income.
It's normally OK to spend 35% of your net income on all vehicle expenses.
It's normal to spend more that 50% of your net income for vehicles.
All vehicle expenses should be limited to 20% of your net income.
Savings is always first, whether or not you know if you regularly spend more than you make.
You should be committed to spending less than your net income, before you try to start saving.
Saving doesn't matter because unexpected expenses come up all the time.
You can always borrow for whatever you need after your credit is restored.
Payment for children's health insurance premiums.
A home mortgage.
A car loan.
Debt for live saving or quality of life changing medical procedures.
Credit scores are based, in part, on household income.
Credit scores are used to help predict how well someone would pay back their next loan.
Credit scores can be used in the employment application and decision process.
Credit scores can be used by a landlord to decide whether to rent an apartment.