Minion & Sherman
Call Us Today for a Free Confidential Consultation

New Jersey bankruptcy: New Year's financial resolutions

As many college students in New Jersey are looking forward to their future, there are many that may also be hoping that 2013 is a better year financially than it was last year. With record numbers of people losing their homes and filing bankruptcy, many people are struggling to find a way to recover from the recession. Making financial New Year's resolutions may give not only college students, but everyone a head start on personal recovery.

Many college graduates in New Jersey would attest to the fact that student loans, while helpful, can also be a trap. Students may want to consider only taking the minimum of what they need and nothing more. Many college students don't consider the ramifications of having to repay large amounts of student loans. Being educated on what the repayment terms will be may help students avoid taking out more than they need.

If college students are able to make saving money and creating an emergency fund a priority before leaving college, they may be able to continue that practice long after they graduate. Knowing at least the basics of saving, investing, personal finance and budgeting could help college students from being trapped in debt as many in our country have become. There is a fine balance between building good credit and drowning in debt. Learning these basic principles before entering the workforce may help recession proof our nation's college students.

Many people in this country were caught off guard when the recession hit. Through no fault of their own, they have found themselves struggling to make ends meet. For many people in this situation, bankruptcy has been a safe haven and has given them a fresh start financially. After receiving a bankruptcy discharge, many people have been able to implement these same practices in their own lives.

Source: Fox Business, "Five Financial New Year's Resolutions Every Student Should Make," Emily Driscoll, Dec. 26, 2012

No Comments

Leave a comment
Comment Information


At the law offices of Minion & Sherman, our New Jersey bankruptcy attorneys have been providing families with real solutions for more than 20 years.

Email Us For A Response

Contact Us Today for a Free Consultation

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

West Caldwell Office
33 Clinton Road
Suite 105
West Caldwell, NJ 07006

Toll Free: 866-915-1839
Phone: 973-559-5791
Fax: 973-882-0856
Map & Directions

Newark Office
201 Washington Street
Newark, NJ 07102

Toll Free: 866-915-1839
Phone: 973-559-5791
Fax: 973-882-0856
Map & Directions