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Hi! This is Alfred on behalf of Expert Village. Foreclosures this August were 53 percent higher this year according to TheBeehive.org. At Bankruptcy.com it states that the average monthly Chapter 7 filings for the 8 months ended January 31, 2007 was $32,600. March 31, 2007 Chapter 7 filings were $48,700 for a 49 percent increase. According to a recent USA Today, an article about debt, 78 percent of baby boomer's have mortgaged debt 59 percent have credit card debt, 56 percent have car payments. At money.CNN.com says spending money beyond yuour limits is dangerous but if you do, you've got plenty of company. Government figure show that many households with total incomes of $50,000 or less are spending more than they bring in. This doesn't make you an automatic candidate for bankruptcy but it is definitely a sign that you need to make some serious spending cuts. Americans are in the habit of borrowing to cover both short term expenses like those on credit cards and long term ones such as buying cars and it's time to budge. Now the word budget can conger up a dreary image of scrimping and sacrificing. So many people avoid the subject all together. But creating and following a budget means you can have the money for the things you want. Make a list of all the items large and small you need or would like to have but don't think you can afford. Many of them may be within your reach if you budget well. Think of creating a budget as a financial planning for your dreams.

alfred loughmiller,