If you’ve recently filed for chapter 13 in Ohio, creating a solid budget should be your next step. Adhering to the terms of your repayment plan is a must. If you’re unable to pay according to the schedule you run the risk of having chapter 13 revoked, which means you’ll be responsible for the total amount of debt you owe. To help you get by, U.S. News & World Report offers the following budget tips.

Have a goal in mind

You probably want to pay down your chapter 13 debt as quickly as possible. Accordingly, this is a great goal to set for yourself to keep you motivated to stay on your budget. From here, it’s much easier to make a financial plan going forward, including taking the steps to boost income, cut spending, and put money away for unexpected expenses that can pop up.

Differentiate between what you want and need

When spending frivolously, it’s easy to confuse the items you want with what you actually need. Focus on the necessities first and foremost, including your home, clothing, food, and transportation. When your confident these costs are covered, prioritize non-essentials so you can make smart decisions about spending. For instance, instead of eating out or ordering food frequently, make meals at home to lower food costs.  

Be smart when shopping

In the same token, look for ways to cut costs when shopping for items. You can do this by comparison shopping, which is great when buying groceries and other essential items. You can also look at services you currently pay for to see if you can’t reduce costs by getting rid of things you don’t need. This can include your mobile carrier, internet provider, and insurance company, who may be able to help you find discounts or reductions on current insurance costs.