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I was entering a transaction into my Quicken checking account a few nights ago.  I noticed my accounts folder was still entitled, “My Finances, Such As They Are.”

I gave it that title years ago when I set up my Quicken accounts.  I was carrying heavy credit card debt.  I believed I was a financial incompetent, so I gave the folder a sarcastic, self-denigrating title.

I’ve read about BK releasing financial capital.  When people clear their overwhelming debt, they are free to save and spend their money in ways that benefit the whole economy.

Bankruptcy releases emotional capital, as well.

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