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Some of the creators (bloggers as I’ve mostly gotten off social media personally) have recently begun starting or trying to start new routines in their lives. Many are for health benefits, some for work schedules, and I had the idea that this would probably work for me as I am nothing if not driven by routine and lists and schedules. What do you think?

I’ve been reading a bit about it:

- James Clear’s article “How to Build New Habits by Taking Advantage of Old Ones” gives a scientific type introduction.
- S.J. Scott wrote a whole book about it, you can find it here on Amazon – Habit Stacking: 127 Small Changes to Improve Your Health, Wealth, and Happiness <-NOT an affiliate link or find it at your local library
- Reddit commentors seem to agree that is can be a life changing process and offer recommendations for other books.
- “Habit Stacking Makes New Habits Last—Here’s How It Works” on Real Simple really broke down how to start with step by step directions and tips.
- The “The 9 Best Habit-Stacking Combos for Forming New Wellness Routines” article provides a list of basic ones to start with. There weren’t really applicable to me, but some might find them inspiring.

Eight Elements of Habit Stacking

According to S.J. Scott (reference above), there are several elements to a habit stacking routine:

Each habit takes less than five minutes to complete.
It’s a complete habit.
It improves your life.
It’s simple to complete.
The entire routine takes less than 30 minutes.
It follows a logical process.
It follows a checklist.
It fits your life.

Now each of these speak my language to the core. You?

My favorite aritcle of the ones I read was this one “Habit Stacking: 17 Small Productivity Habits” on the FS blog.

How to Apply to Me and My Finances

I am nothing if not a creature of habit. So, of course, I returned to Google to help me find specific examples of Habit Stacking for Finance. This was the most robust list I found “How to Habit Stack Your Finances“. I also appreciate this article by Chihee Kim especially how she focused on learning and retaining more about financial literacy. Every time I learn something, and really get it, I just realize how ignorant I am about finances.

Now I’ve got to do the work. I’ve going to follow the steps outlined in this article (listed above as well) and begin this journey.

Have you used Habit Stacking in any aspect of your life? Did you find it beneficial? And were you successful at you achieving your goal?

Hope

Hope is a resourceful and solutions-driven business manager who has spent nearly two decades helping clients streamline their operations and grow their businesses through project management, digital marketing, and tech expertise. Recently transitioning from her role as a single mom of five foster/adoptive children to an empty nester, Hope is navigating the emotional and practical challenges of redefining her life while maintaining her determination to regain financial control and eliminate debt.

Living in a cozy small town in northeast Georgia with her three dogs, Hope cherishes the serenity of the mountains over the bustle of the beach. Though her kids are now finding their footing in the world—pursuing education, careers, and independence—she remains deeply committed to supporting them in this next chapter, even as she faces the bittersweet tug of letting go.

Since joining the Blogging Away Debt community in 2015, Hope has candidly shared her journey of financial ups and downs. Now, with a renewed focus and a clear path ahead, she’s ready to tackle her finances with the same passion and perseverance that she’s brought to her life and career. Through her writing, she continues to inspire others to confront their own financial challenges and strive for a brighter future.

Bankruptcy and Restoration: How To Take Control Of Finances

by Semify

Introduction to Bankruptcy

Bankruptcy can be a daunting word, but it doesn’t have to signal the end of your financial world. It is a legal process designed to help individuals and businesses eliminate or repay their debt under the protection of the bankruptcy court. Bankruptcy can give you a fresh start and an opportunity to rebuild your financial life.

Understanding the different types of bankruptcy is crucial. There are several types, but Chapter 13 bankruptcy, in particular, is a process that consolidates your debt and establishes a repayment plan. This plan typically spans between 3-5 years, during which you make payments to your creditors.

Contrary to popular belief, bankruptcies are often filed by consumers rather than businesses. According to statistics, the proportion of business bankruptcies has significantly decreased; whereas, in 1980, businesses accounted for 13% of bankruptcies, today, they make up only about 3%.

Understanding Chapter 13 Bankruptcy

Chapter 13 bankruptcy, also known as a wage earner’s plan, allows individuals with a regular income to create a plan to repay all or part of their debts. This type of bankruptcy is particularly beneficial for individuals who have valuable assets they want to keep, like a home or a car.

Under Chapter 13, debt consolidation is key. This process allows you to combine all your debts into one manageable payment plan. Typically, these plans are structured over three to five years, giving you a reasonable timeframe to pay off your debt.

Chapter 13 also offers protection from creditors. As long as you adhere to the terms of your repayment plan, your creditors cannot continue collection efforts. This legal protection gives you breathing space to focus on paying off your debt and restoring financial stability.

The Medical Debt Crisis

Medical debt is a significant issue leading many Americans into bankruptcy. A survey by LegalJobs found that over 40% of US respondents are currently in debt due to medical bills. This startling statistic highlights the financial burden that healthcare costs can impose.

Many people who find themselves unable to pay their medical bills turn to bankruptcy as a solution. While this can provide relief from overwhelming debt, it’s crucial to address the root causes of medical debt and seek ways to manage it before it becomes unmanageable.

For those struggling with medical bills, Chapter 13 bankruptcy can be a viable option. It helps consolidate medical debts into a single repayment plan, making it easier to handle and providing relief from aggressive collection practices.

Steps to Financial Restoration

Taking control of your finances after bankruptcy requires a well-thought-out plan. The first step is to create a realistic budget that reflects your current financial situation and future goals. Tracking your income and expenses will help you identify areas where you can cut costs and save money.

Rebuilding your credit is another essential step in financial restoration. Start by paying all your bills on time, getting a secured credit card, and keeping balances low. Over time, these actions will improve your credit score and demonstrate to lenders that you are a responsible borrower.

Lastly, consider seeking financial advice from a professional. A certified financial planner can guide you through the process of managing your debt, building savings, and planning for the future. Their expertise can help you navigate the complexities of rebuilding your financial life after bankruptcy.

Taking Control of Your Financial Future

Bankruptcy is not the end but rather a new beginning. By understanding the process, particularly Chapter 13 bankruptcy, you can take proactive steps to manage and eliminate your debt. This fresh start allows you to regain control of your financial future.

Handling medical debt and other financial challenges requires careful planning and commitment. With the right strategies, you can overcome financial difficulties and work towards stability and growth. Remember, bankruptcy is a tool that, when used wisely, can pave the way for financial restoration. According to Debt.org, most bankruptcies are filed by consumers instead of businesses. In 1980, businesses made up 13 percent of bankruptcies, but today they only account for around 3 percent.

Ultimately, the goal is to create a sustainable financial plan that will prevent future debt issues. By focusing on budgeting, credit repair, and seeking professional guidance, you can build a solid foundation for a financially secure future. Take control of your finances today and embark on the journey to financial restoration.