The Ten Points Of Financial Stability

Decent Essays
The Ten Points Of Financial Stability.

Christina Coffman


1. Definition
2. My interpretation
3. How to
4. Habits
5. Getting rid of debt
6. Benefits of being financially stable
7. What could happens without financially stability?
8. Prime example : Great Depression
9. Are you financially stable?
10. Financial security

Financial stability is when your financial plan and system is resistant to economic shocks, it means to be able to manage risks and your arrangement of payments accordingly to your living or lifestyle; it is a widely discussed issue in today 's economy. Financial stability is not a number or class, it 's a state of mind; It 's a sense of comfort or security. Someone that is financially stable won 't
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In my opinion, financial stability is being able to exceed that cost. A person should be able to live within there means and still save money for later, that is financial stability to me. It means more than just paying your bills and expenses because what if, one day your whole entire house burns down as well as all of your beloved belongings? Are you going to be positive that you and your family will be okay? It all comes down to being prepared for financial curve balls, because you never know what could happen; life sure does know how to surprise us. I feel like if you 're able to get all of your needs taken care of, still be able to do something 's that you want and plan for your future ( put money away for savings) then you 're living right. It may not always be the easiest thing to do or conquer, but it 's a goal most everyone is trying to reach. Having to worry about how you and your family are going to survive is a stressful and scary feeling that I 'm sure no one wants to feel.

A good question is how does a person acquire financial stability? In my opinion, one of the main reasons so many people are financially unstable is because they can afford there lifestyle. If you work at McDonald 's a Mercedes Benz might be slightly out of your reach. I believe that a person that could acquire financial stability if they were realistic with the lifestyle that they want to live and the amount of money that they make. With that being the first step I
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