Posted on March 25, 2009 at 5:16 am We can try self money management to deal with bankruptcy. As a result of spending more than our income in a given period we are in debt. If we wish to reduce debt, first solution may be reducing monthly expenses to allow extra cash flow to service debt. We can do by creating a personal budget and analyzing expenses so that we can find out the point to reduce expenses. If we can review a written list of our monthly expenses, we would be able to find out some ways to reduce expenses.

Posted on April 2, 2009 at 9:49 pm Well said, all that you mentioned eat up more and more of your paycheck everymonth.  With the spiraling prices of  commodities and services and no-or very little salary rise offered, we all find it harder to meet, much less beat our budgets.. We need self-disciplined...

Posted on April 3, 2009 at 11:07 pm My parents gave me zero money management knowledge, mostly because they had none themselves. So, I've been trying to educate myself through books and websites, trying to become self-reliant. While I feel I've learned a lot, the one thing I don't feel I've got a grasp on what is a good balance. As such, I tend to err on the side of saving more and sacrificing short term happiness.General long term goals, in order of importance:1) Once I hit retirement age, be affluent enough that I don't need to worry about income -- i.e. don't need to lean on anyone. Not looking for a luxurious life, just a self-sufficient one.2) Have a nice home in a good area. I tend to think of nice == spacious, since I'm a person who enjoys not feeling cramped in where I live.3) Be able to take vacations yearly. Mostly the cheaper in area ones, though maybe a more expensive ones every so often.

Posted on April 4, 2009 at 11:50 am Nice "traveler" I like such a travelling.of money management especially self management. I also trying as you I am also learning from books and websites.  Trying to be selfreliant.

Posted on April 4, 2009 at 12:25 pm Well said, all that you mentioned eat up more and more of your paycheck everymonth.  With the spiraling prices of  commodities and services and no-or very little salary rise offered, we all find it harder to meet, much less beat our budgets.. We need self-disciplined...

Posted on April 4, 2009 at 12:38 pm Well said.  Having a budget and watching where the money is going is definitely going to help free up money somewhere else.  I honestly believe that poor money management (on my part) as well as a combination of a couple other factors created most of my debt.  I am getting smarter in the area of "money and budgeting" and won't be repeating the same mistakes.  One of the contributing factors for my debt is the lack of having a savings plan.  Some things I could have done without or waited a little longer to have them.  Cable TV being one of them, my rationalization though was....well, compared to what I would be spending for movies, cable was the cheaper route.  Definitely a big mistake on my part.  It's not always the big things that create debt, but the little things too.