Many Michigan residents who plan to file for bankruptcy in 2013 worry about the changes that will come following the bankruptcy process. While bankruptcy will bring short term damage to one's credit rating, it also opens the door to a new start toward financial stability. A recently published article suggests a number of changes that individuals and families can make to help reduce costs and save money, all while working to protect the environment.
One tip involves taking a critical look at one's living space. Many of us live in homes that are far larger than we really need. Heating and cooling this extra space can wreak havoc on the monthly budget, and also causes unnecessary damage to the environment.
While it is not always possible to relocate to a smaller home, there are a number of changes that can be made to increase the energy efficiency of one's existing heating and cooling system. Careful weatherproofing can help keep cold air out and warm air in. As appliances wear out, replacing them with energy efficient units can bring significant savings over time. In some cases, making energy efficient updates can lead to tax credits.
Once the bankruptcy process is complete, individuals and families in Michigan will be free from a majority of the consumer debt that weighed them down. This is the perfect time to make lifestyle changes that can help save money and build for future financial success. By making green changes in and around your home, it is possible to also preserve the environment while improving one's financial outlook.
Source: Greener Ideal, "Going Eco-Friendly to Avoid Bankruptcy," Dec. 27, 2012