Expenses

Expenses

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Many people don't have a clue where their money goes. If you consider filing for bankruptcy, or even if you just want to figure out why your debt increases every month, prepare a listing of expenses. I HIGHLY recommend Quicken for budgeting. Give realistic estimates. If your expenses add up to more than the income you have listed, or less than your income and you want to file for bankruptcy, be prepared to explain. Many people are CHARGING expenses to credit cards, so that's usually easy to explain. Of course many of the expenses are variable, and if you drive an old car, you DO have substantial maintenance costs. If you don't have health insurance, you need to budget for medical expenses, etc.