ArticlesBase.com - Free Articles Directory
Free Online Articles Directory
08.10.2008 Sign In Register Hello Guest
Email:
Password:
Remember Me 
forgot your password?


Recovering From Addiction - Including Your Personal Finances

Author: Adrian Adams Author Ranking Gold | Posted: 27-01-2008 | Comments: 0 | Views: 7 | Rating:  (50) Article Popularity - Green (?) Got a Question? Ask.
Sign Up Now!

Recovering from addiction is a long struggle, one that extends beyond a body free from substances. Recovery is a healing process that reaches out to your relationships, your mental health, you career and even your finances.

Achieving permanent sobriety means rebuilding your life after addiction and creating a foundation upon which you can steadily stand. To do that, many people recovering from addiction need to rebuild their finances. If you're on the path to recovery, keep reading to learn how to take charge of your finances, budget for an abundant life and rebuild your credit.

Many people coming out of addiction are faced with depleted savings, health bills, repossessed goods, bad credit or even bankruptcy. Before the stress of these financial burdens affects your path to recovery, you need to face your financial problems head on.

First, learn to budget your money without going further into debt. Start by calculate your total family income from all sources. From there, calculate all of your expenses including rent, house payments, utility costs, groceries, debt repayments, savings and entertainment. If, after budgeting, you're unable to balance your incoming cash flow with your outgoing cash flow, then you need to start making cuts.

Whether your cuts as small as removing your cable service or as big as downgrading your apartment or home - sometimes we need to cut back in order to build back up. Remember, you can also renegotiate your credit agreements and set up payment schedules as a way to reduce your monthly payments and begin tackling your debt both responsibly and in way that's affordable.

Second, be prepared to rebuild your credit. This starts with a plan. Focus on how you're going to attack your debts, make a commitment to never miss a payment and plan out how you're going to use your future borrowing ability.

If you've had to declare bankruptcy, start rebuilding by reopening a checking or savings account. You can then rebuild your finances by always making your bankruptcy payments on time, applying for and maintaining a secured credit card, staying away from payday loans or other high interest traps and always being diligent with your payments.

It's a long and hard road to rebuilding your finances, but over time you'll get there. The first year is the hardest, but once you've proven that you can responsibly manage your finances for a 12-24 month period, you'll see your credit score improve exponentially. With time, you'll be back in a position where you can apply for a home mortgage, obtain a credit card or secure a car loan.

Rate this Article: Current: 0 / 5 stars - 0 vote(s).

Article Tags: Addiction

Article Source: http://www.articlesbase.com/finance-articles/recovering-from-addiction-including-your-personal-finances-316410.html

Print this Article Print article   Email to a Friend Send to friend   Publish this Article on your Website Publish this Article   Send Author Feedback Author feedback  
About the Author:

Please visit What Is A Womens' Retreat? and Self Esteem Building

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Comment on this article Comment on this article
Your Name
Your Email:
Comment Body
Enter Validation Code: Captcha


Got a Question? Ask.

Ask the community a question about this article:

Frequently Asked Questions

Acai-berry
By: Clare | 11-09-2008
Has anyone tried ACAI-BERRY?  What were your results?

I need to quit drinking and abusing narcotics but ...
By: Helpless | 09-09-2008
I need to quit drinking and abusing narcotics but I don't know how to go about it. I can't lose my job either. I feel trapped.

Which one is the angel that takes care of health ...
By: ayekila | 05-09-2008
WHICH ONE IS THE ANGEL THAT TAKES CARE OF HEALTH AFFAIRS. I know, our LORD takes care of his children, but I think HE  has special messengers (ANGELS) to take care. What do you think. Greetings, ayekila 

Anyone out there have advice about hernia follwing ...
By: Marjory | 04-09-2008
Anyone out there have advice about hernia follwing breast reconstruction? The hernia is in abdominal wound.

Is soda bad for your bones?
By: kingcantona | 04-09-2008
Milk is good for your bones of course, but is soda really bad for them?

Vomit repellent substance in Diet Coke
By: galita123 | 02-09-2008
Is it true that they put a vomit repellent substance in Diet Coke (because otherwise your body will reject the Diet coke and it'll make you vomit)?

Q&A Powered by:
Powered by Yedda 

Latest Finance Articles

Stock Market Advice - Be Careful Who You Listen To
By: Bruce Lipski | 08/10/2008
You can get stock pics almost everywhere including magazines, TV shows, radio shows, The Internet and probably many other places as well. One thing is for sure, there is no shortage of opinions.

Learning Proper Money Management For College Students
By: Jamie B. McIntyre | 08/10/2008
It is tempting for college students to just throw caution to the wind and enjoy life as it comes. I mean, you are only young once and there are so many things to enjoy while you at that age when you are totally energetic and feeling full of excitement and...

Off Shore Incorporation In Ras Al Khaimah Is The Quickest In The Middle East
By: Ramapati Singhania | 08/10/2008
Off shore incorporation in Ras Al Khaimah [RAK], one of the fastest growing emirates in one of the fastest growing economies of the world - the United Arab Emirates [UAE] is the easiest to do in the Middle East.

BVI Offshore Registration: All That You Need To Know To Get Started
By: Ramapati Singhania | 08/10/2008
BVI offshore registration is certainly cheaper than Lichtenstein or Luxembourg and extremely popular. More than 6,500 companies are incorporated in this jusrisdiction every month!

The History of the Global Forex Market
By: Orlando Thompson | 07/10/2008
In this article we explain what the global forex market is and how it came to be this is very insightful information that will help you in your forex trading system choices.

How To Go About Improving Your Credit Score
By: MIKE SELVON | 07/10/2008
While it'd be nice to live a "credit-free existence," it can be difficult to do so in today's world.

Self Directed IRA Possibilities With A Small Business
By: Jerry Glynn | 07/10/2008
It is normally not possible to set up a self directed IRA with a small business. This article describes a little known strategy that can be used in conjunction with a small business.

Understanding Debt Consolidation Loans
By: Richard Greenwood | 07/10/2008
It can be all too easy to end up in debt and especially during the current times of financial uncertainty you may find yourself unable to make repayments. Consolidating your debt can make your debts easier to manage and lower your interest charges meaning you become debt free faster.

More from Adrian Adams

Health And Depression In The Elderly
By: Adrian Adams | 21/05/2008 | Diseases and Conditions
Having lived a happy life full of meaning and purpose, why would an elderly person become chronically depressed?

Two Way Radios Are Not Just For Play
By: Adrian Adams | 15/04/2008 | Technology
Not just for kids to play with anymore, two way radios are very useful and even essential in some situations. These two way radios have come a long way from the cheap little walkie-talkies that were more of a toy.

Tips For Planning A Great Family Vacation
By: Adrian Adams | 11/04/2008 | Travel
Traveling is a great experience for people of all ages. But, one of the best ways to travel is with your family.

The Road To Sober - Quitting The Alcohol Before It Consumes You Completely
By: Adrian Adams | 11/02/2008 | Health
When you've been listed on the roster for your first AA meeting, you know your drinking problem has gotten out of hand. You've probably acknowledged in the past that your drinking is heavier than the usual social drinking spiels but deny that it is uncontrolled.

Healthcare And Well-Being For Every Age
By: Adrian Adams | 11/02/2008 | Health
In this present time, there are millions of men and women who are very concerned with health and wellness.

Improve Your Health And Improve Your Life
By: Adrian Adams | 11/02/2008 | Wellness
Most of us are aware that your diet is critical to your continued good health. It is true that what you put into your body is what your body will be able to give back to you.

Important Guidelines For Choosing Your Health Insurance Provider
By: Adrian Adams | 10/02/2008 | Insurance
Choosing a health insurance provider can be a daunting task. Although you know you will be happy you have coverage when you need it, insurance is one of those things we all would rather not have to think about.

Walking Down The Path To Better Health
By: Adrian Adams | 10/02/2008 | Sports and Fitness
Man is distinguished from other animals by a myriad of characteristics, but perhaps the most obvious difference is that man walks upright. Whether you believe you are a product of a higher being or evolved from other life forms, walking has enabled humans to easily move about the earth.

Article Categories






Give Feedback

Sign up for our email newsletter

Receive updates, enter your email below