Procrastination Leaves Many Chicago Consumers in Debt

You'd think that with all the DIY personal finance tools available today -, Quicken and online banking, to name a few - that getting our finances in order would be easier than ever.

Yet Americans are increasingly falling into debt and filing for bankruptcy. In fact. 1.5 million people opted for bankruptcy in the past twelve months, a 20 percent increase from the year before. So what's the problem? Why aren't these new-fangled organization methods working? The answer is simple, according to Chicago bankruptcy attorneys - many of us aren't using them.

We know that organizing our finances can make it easier to stick to a budget and work towards our goals. But sometimes getting organized in the first place - especially for those of us who aren't naturally meticulous - is a problem. The economy has changed how many of us view money, yet it hasn't changed our core behaviors - namely our tendency to live in denial, putting off what can be done today until tomorrow.

If you're the kind of person who promises you'll make a budget when you find the time, or start adding to your savings when you finally get that raise, it's time to stop making excuses. There are actions you can take to improve your finances right now, no budgeting necessary.

First and foremost? Stop spending money you don't have. For most of us, that means laying off the credit cards. It's not enough to just think about paying off your balance or transferring debt to a card with a lower rate. You've got to stop adding to your debt before you can lower it. Once your balance is stable, start cutting out as many unnecessary expenses as possible so you can afford to pay more than the minimum each month.

Getting out of debt is within your grasp, but that doesn't mean it will be easy. There's a reason more people are filing for bankruptcy, and it's not just the economy. Folks are realizing that wishing debt away isn't enough. Something has to change. If going it alone isn't working, help is there. Bankruptcy isn't the end of the road; it can be the beginning of a new one. It can eliminate some debt payments, and make others more affordable. Find out for free what bankruptcy can do for you with a complimentary one-on-one debt analysis courtesy of a Chicago bankruptcy attorney.

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