To avoid bankruptcy and debt all together, the first thing you need to do is to never spend more than you earn. As for a place to live, a car, and food, you need to set a budget in order to only spend the amounts that you need. You can even spend a little less on the car and pay off existing debt or simply save some money so that you can buy a house or a nicer car later on. Savings are also nice to have in the chance that there is an emergency. …show more content…
If you have a shopping addiction or like to spend money on things that are not needed and are just luxury items, you may need some help suppressing the need to buy those items. If you have the money to buy luxury items, then go for it, but if you do not, necessary things are first priority. It is your choice, but the amount of money you spend on other things only takes away from the amount you get to spend on a nice house or