Copyright Goodheart-Willcox Co., Inc. 56 Chapter 2 Personal Financial Planning • Accept and acknowledge the crisis. • If debt is a part of the crisis, contact creditors promptly. • Avoid making any new credit purchases. • Look for reliable, affordable credit and financial counseling. • Adjust spending habits and cut expenses. • Look for every possible source of new income. • Ask unemployed family members to seek work. • Look for assistance from extended family, employers, insurance, government programs, and community or charitable organizations. • Consider selling some assets, such as real estate, investments, autos, and valuable possessions. • As a last resort, consider bankruptcy. Some situations may call for the help of professionals. Consider consulting health-care providers, family counselors, financial advisors, and lawyers to determine the full scope of the crisis. Kudla/Shutterstock.com Individuals can avoid financial trouble by spending only what they can afford and keeping debt under control.