The key is to learn how to manage your assets and liabilities to prevent unforeseen situations.
The wise management of your assets will prevent you to entry in debt situations that often lead people to bankruptcy. In order to avoid these situations it is required that you design a plan for the administration of your assets. we suggest to prepare a budget in where 10% of your income should be reserved to build and emergency fund of your monthly expenses for the period of three months. Once you accomplished this amount, you should start thinking in RRSP first, then in TFSA accounts, further after in mutual funds, insurances and investments in real state respectively.