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    When individuals or businesses cannot meet with their
    financial obligations, many make the assumption that the
    only solution is bankruptcy. That is not always the case

    If the right steps are taken from the beginning, you can
    keep yourself and your family out of financial trouble and
    away from bankruptcy.

    First off, start by educating your children. Many of us
    growing up weren?t presented with the tools and knowledge
    to establish and maintain good credit and keep away from
    the scare of bankruptcy.

    Parents need to be honest with their children about
    finances. Teaching children that hard work, no matter the
    job, has its rewards and if you spend on a budget, there
    will never be a fear of bankruptcy.

    Establishing a budget is also key in the prevention of
    bankruptcy. You cannot spend what you don?t have. Many
    people today have multiple credit cards and are in essence
    spending money they don?t actually have, plus more for

    So much so that people are paying off credit cards with
    credit cards and causing a terrible chain reaction. Spend
    what you can afford, after the bills are paid.

    But you will want to make sure you have something socked
    away for an emergency. Something along the lines of two
    thousand dollars is a good base to have stored away for an

    It is another step to take to keep out of financial
    trouble. Probably the most important thing though is to
    watch your bank account. Don?t get yourself into a
    situation where you are overdrawn.

    The fact is more than a third of adults rely on their banks
    overdraft to keep them going on a month-to-month basis.
    Such actions are ones that lead individuals on a path to