Self-Improvement Project Report on budgeting

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Running head: Self-Improvement 1

Self-Improvement 2

Self-Improvement Project: Risk Management

Tamara Giebler

National American University

Quality and Risk Management

Ruth Vivian Derby

December 23, 2018

As starting something new could be incredibly overwhelming. As one begins something new that one is not very fond of could be yet more overwhelming. I choose my self-improvement project on improving my family’s finances. I choose this for my-self-improvement project because currently myself and my husband are in financial stress. We have filed for a chapter thirteen bankruptcy. We do not go to court until the end of January. If all goes well, we will be debt free in 5 years from the date we go to court.

The first question in this assignment is what can potentially go wrong? Many issues can potentially go wrong. The court could deny us the bankruptcy. We could forget to do our weekly budget. We could forget to pay bills that are due, such as the gas bill then the gas company would shut off our gas.

The second question in this assignment is what are the limiting factors for success? The limiting factors for success are that we don’t lose any days off work for our bankruptcy takes it right out of my husband check. With Christmas and new year’s, it will depend on the company if they are working the holidays and the days before and after the holidays. We did find out that he will be leaving Christmas day, this is a good thing for he will not lose any days this week. And we always celebrate Christmas on Christmas Eve. But then if he would have lost a day, we would be short to pay our other bills.

The final question in this assignment is what can be done to prevent failure? To prevent failure, we must be strict about our budget and pay our bills as soon as they come in. And put money into our saving account to be able to have the extra funds if my husband has a day off, or if there is a holiday that he does not work.