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Description

No one wants to get into financial hardship, but it can happen to any of us, so it is always better to be prepared; in today's episode Phil shares his tips and ideas to keep our peace of mind in case hard times come around. Don't wait to the last minute, follow these tips to be ready for tough times.

An effective financial plan for  bankruptcy has the following 4 elements:

1. Get rid of as much debt as you can
2. Have an emergency fund
3. Have a survival budget
4. Practice responsible money management

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Produced by The Podcast Boss.