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Step 1
The best way to survive our current economical situation is to plan a budget.
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Step 2
The budget first needs to have listed all the reacquiring bills. This would be house or rent bill, electric bill, and any other monthly bills. Next to each one list how much it is.
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Step 3
Second, list the things that you need. This includes medicines, food, and anything else that is necessary/life sustaining. List next to each one the amount you will spend on these items.
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Step 4
Third, list the things that you want. This want list is place where you place the things that you want and for the things you wish for live the private jet or the mansion. This want is the things that you use now that is not life sustaining. This would be cable/satellite TV, tickets to the game/performance, and anything else of that nature. List how much these things cost.
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Step 5
Take the amount of income that you have subtract list one and two from it. Twenty percent (20%)of the money left over should be saved for a rainy day. The money that you have remaining (the 80%) can be used to pay off some your debt, for entertainment, or for the items listed in the third list.
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Step 6
This is a very important step to remember. Always have health insurance. The majority of Americans who file for bankruptcy was due to health care expenses. Even if you feel like you can't afford health insurance you must have it. It is better to have a cheap plan that has high premiums than to have to face a $100,000 doctor bill.
