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late payments costs them more money than it's worth. Talk to them. If paying monthly or even weekly would be more manageable for you, ask for that option. Tell them what you need from them and ask for suggestions to help your situation. Generally these companies will do what they can to make it easier for you to pay and pay promptly.

Now you're aware of where your money goes and exactly how much of it you have it is time to evaluate exactly what you need. You family won't cease to exist if you cancel your pay per view television subscription, your teenage daughter really doesn't need her own cell phone and the twins don't have to have hamburgers from the school cafeteria every day. There are a great many expenses you can learn to live without and it is far more important to ensure you have enough money to cover health care then it is to have an extra tub of ice cream in the freezer. DECIDE WHAT YOU NEED' and if there is money left over after that you can add a few wants'.

DON'T FORGET TO SAVE. Savings are an important expense that should never be forgotten. You'll need rainy day funds' so make sure you put aside a percentage of your income. It can also be reassuring to examine your actual family worth in financial terms. Your furniture, your home, and your skills are all worth something. If money is seriously tight you can depend on any of these things to help pull you out of bankruptcy.

If things still aren't coming together then you'll need help. It might feel hard to ask your friends and family but sometimes it is more important to hang your pride before your family has to live in cardboard boxes. ASK FOR HELP, ask for what you need and ask for suggestions.

There are always options and if you take your situation seriously you will understand that financial difficulties are always manageable. Bankruptcy is not inevitable. If it means taking a second or third job, getting your fifteen year old a paper route, selling the family home for something smaller/cheaper, or living on tins of food from the local shelter you can get back on your feet. Step by step, dollar by dollar, hour by hour.

Learn more about this author, Rebecca Laffar-Smith.
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