So you have at last been discharged from your bankruptcy, and now you are free to do anything you want again. The world is your oyster!

But before you grab a bucket and head for the beach, there are a couple of things you need to understand.  First of all, a bankruptcy discharge isn't a license to shop.  That itch to celebrate your newfound freedom may be nearly impossible to ignore, but if you want to remain debt-free, you are going to need to lay low for awhile, particularly within the three months after your discharge. 

This is why: you possibly feel like you've been in debt forever, but you are not the only one who knows it.  Credit card companies have caught the scent also, and chances are you're getting applications left, right and center lately.  Talk about tempting!  The best thing you could do is to throw those credit card applications right into the recycle bin, in spite of how much this or that company says they like to help you rebuild your credit.  The fact is they don’t really want to help you rebuild credit; they want to help you get back in the position that caused you to go bankrupt to begin with. 

Those high risk credit cards come with lots of caveats - the fee you pay to get the card, for example.  Some cards will in fact charge you for the card by putting it on your card.  So if your card has a $100 limit and it cost you $75 to get, guess what?  You only have $75 in credit.  Go over that, and be prepared for some nasty fees. 

So how could you get your life back on track?  Before doing anything else, you have to change your spending habits.  Really think about the cost and quality of things and put yourself in control.  For instance, is it really worth it to buy that brand-name bread when the store brand is just as good and costs a dollar less?  This is a small-scale example, but if you can apply that type of thinking in baby steps, pretty early you'll be capable of applying it to everything you buy, no matter how large.  So clip coupons, try to buy when things are on sale, and don't go hog wild when you do buy. 

Second, prioritize your bills.  Your most important, should-pay-on time bill each month should be your rent or mortgage.  It's your shelter, and without it, handling anything else that comes your way will become much more difficult.  Your utilities are next, because you should to be able to cook and store your food.  Your third most important bill may be the telephone, the fourth your cable TV or satellite, and the like.  Take an average of how much of your pay check goes for rent/mortgage and bills.  Then, set aside a little bit of each check to place toward each bill.  It might be a little tedious, but trust me; it will be worth it when you get into the flow. 

The second thing you have to do is save up $500, doing the same as you've done for your bills - take a little out of each pay check.  But this time, open a new bank account.  When you've saved $500, run to your nearest bank and request a secured bank loan for that amount.  The bank should not have any problems granting your request, since the money is already there.  For the following 90 days, make your payments on time, every time.  You will be surprised at how much quicker this will build your credit than those high-risk cards! 

If you must use credit, why not do it to your advantage?  Here's how: purchase an item that's on sale with your credit card.  Then, when your credit card bill arrives, pay the item off in full before the due date.  That's it!  You get to enjoy your new item for a month before you have to pay for it.  If you can stick to this strategy, your credit will have nowhere to go but up. 

By applying the above tips, your credit is going to be given a boost at a time when you need it the most - in the first 3 or 4 months after a bankruptcy discharge.  You have just been offered a second chance.  Do not give up - you can do it.