It seems ironic that nobody needs to attend a budgeting class in order to go into debt, but in order to file bankruptcy and get out of debt, a person does need to attend a budgeting class.
A recent article indicates that more and more states are now requiring financial literacy courses in high school. There isn’t one correct way to run a budget, although it does seem that people figure out their own way on their own. But keeping track of income and expenses is what it really comes down to. It can be hard when unexpected expenses come along. Sometimes a bankruptcy is the best way to wipe the slate clean and start fresh.