By: Darrell Castle

By downsizing your life, you can have a lot more.

I know that sounds a little contradicting, but stick with me real quick.


Through all of my years helping people get out of debt through bankruptcy, I haven’t met one person who has a saving problem. You don’t have a saving problem either. You have a SPENDING problem!

Unless you have super-human control and deadbolt lock abilities to not open your wallet, you have a spending problem – it’s human nature.

The majority of us live above or right at our means. This includes going out to eat 5 nights a week, getting drinks with our friends, buying clothes, entertainment and more food. And even more importantly, this includes housing and transportation.

We MUST have the best home and car our money can buy and our savings ends up cooking on the back burner. But what happens when things take a turn for the worse and you lose your job? What if someone in your family gets sick, resulting in a mailbox stuffed full with expensive medical bills? If you didn’t save enough emergency money, then these can turn into life-altering events in which you find yourself drowning in debt you can’t pay back and dealing with the stress and worry that tags along.

Florida is filled with innovative communities designed for people 55 years or older. These communities are full of doublewide trailers inhabited by wealthy people. They DOWNSIZED their lives.

And even though they’re in a small place, they’re living a comfortable life with ZERO debt and plenty of money to enjoy the nicer things in life.

I’m not saying you should uproot your family and move to a smaller place or make any other drastic changes. But I wanted to use the people living in these communities as examples of how downsizing can positively affect your quality of life.

By downsizing your life, you’re living cheaper. You’re living below your means so you can save more money. In fact, you CAN’T save money without living below your means. The further below that line you live, the more you’ll save up, not only for emergencies, but also for a comfortable retirement.

Are you struggling financially? Then there are many ways you can downsize your life.

You could take the more drastic steps of moving into a smaller home or driving a less expensive car.

Or, you could take the simpler steps like cooking at home more, switching from cable to Netflix, spending your Friday nights with friends and loved ones, or brewing your coffee at home rather than stopping in Starbucks 3 times a day – or 4 if it’s Monday.

No matter what you choose – either the simple or more drastic steps – any form of downsizing your life will help you save more by living below your means.

Maybe downsizing to save seems like an impossible task right now because you’re so far in debt you don’t even know where to begin.

You should consider bankruptcy.

Just like downsizing your life, bankruptcy is a strategic decision – one in which you’re making a plan to live a healthier financial and overall life with more disposable income and less stress.

If you’re at retirement age and living with debt, a bankruptcy can help lead you out of debt and onto a life where you can downsize and enjoy the remaining years of your life in peace – not stress and worry.

By filing for bankruptcy, you can either discharge your dischargeable debts through a Chapter 7, or you can lump your debts into an affordable 3-5 year repayment plan through a Chapter 13. An experienced bankruptcy attorney will help you determine which is better for you.

You may not want to file for bankruptcy because you’re scared of what people may think or you feel it’s not right for you. That’s okay, because our bankruptcy consultation requires no obligation. And it’s FREE. At the very least, you’ll get an honest evaluation of your finances at no charge, and probably hear about some useful benefits you weren’t aware of. Come see us and let’s discuss your options.


Call (901) 327-2100 today to schedule your appointment. Or you can fill out the contact form on the right of this page to have someone from our office contact YOU.

Darrell Castle & Associates has received multiple Client Distinction Awards from Martindale-Hubbel, so I promise you’re in good hands here.