When the economy is healthy and things are looking up, why would you worry about how to avoid bankruptcy? However, if you take precautions now you can avoid filing for bankruptcy relief if the economy should begin to show signs of another recession. This article gives five practical tips that will help you avoid bankruptcy including increasing your savings and investments. You should also live within your means, make and follow a budget and place money away for unexpected health care costs.

For more read, “5 Tips to Avoid Bankruptcy When Times Are Good.”