Rebuilding your finances after a bankruptcy can be difficult if you don't have any financial planning skills. Here is a simple step-by-step guide on how to start over again after you have filed for bankruptcy.

Start Living On Cash

One of the easiest ways to budget your monthly finances is to start using cash only to make purchases. This will allow you to see exactly where your money is being spent and if you don't have the cash to pay for something you can't buy it. You can budget out exactly how much money you have to spend on food, transportation, rent, utilities, and entertainment, and then put that exact amount in an envelope. When the money in each envelope runs out, you will have to find alternate and creative ways to survive without using credit.

Immediately Begin To Re-Establish Credit

The best thing to do after filing for bankruptcy is to start to re-establish credit and build back up the level of trust that you have with lenders. Simple small loans at a place that does rental or rent to own can help to turn around a credit score and make a positive impact. Make sure that you check interest rates and don't purchase anything over your monthly budget as it will get you back into financial hot water that caused the bankruptcy in the first place.

Start A Savings Account

There will always be unexpected expenses that occur over the course of a year, so starting a savings account will help you to plan ahead. Even a simple savings of ten dollars a week can add up to a significant amount of money over a long period of time that can be used for bills or other expenses. If you own a car then eventually it will require maintenance or repair that might not have been factored into your monthly budget. You can also set it up through your bank to automatically withdraw to a separate savings account so you don't have to remember to do it yourself.

Following these tips outlined above can help you to rebuild your finances after a bankruptcy. If you have not filed for bankruptcy or find yourself in debt, you should consult with a professional bankruptcy attorney or financial expert to sit down and go over your finances. They will be able to help you come up with a plan that will work for you to restructure your finances. If you're interested in learning more, visit sites like http://www.howardgoodmanlaw.com/.