Budgeting is a big part of bankruptcy.  You have to set your monthly expenses and stick to them, with a bankruptcy trustee to oversee your every monetary move.

Bankruptcy is not the end of the world, but it is not necessarily the only resolution to your financial problems.  Depending on your situation, you may have other legal choices available which could bring you a better benefit.  You are not going to see those possibilities if you file bankruptcy yourself or pay a non-attorney service to fill out the forms for you.

There are long-term consequences you need to know and understand before you file, plus there may be a better option for you, depending on your circumstances.  You would not take chemo if you did not need it.  Why file bankruptcy if another resolution will bring you a better outcome?  Seek competent legal counsel to discuss your specific situation and to help you decide if bankruptcy is the right choice for you.

In the meantime, if you are trying to get a head start on your new year’s resolution towards better wealth management, the Federal Trade Commission has a free online budget calculator to help you balance your monthly expenses with your monthly income: http://www.consumer.ftc.gov/articles/pdf-1020-make-budget-worksheet.pdf.