Financial security is a very common goal to pursue. Having enough money to cover living expenses and healthcare alone is sadly a rarity in today’s society. But what is the true measure of financial health? And how can you establish enough money to get there? That’s what we’re covering today. By the end of this blog post, you’ll know 20 tips to help with your personal finances, getting you closer to achieving your financial goals!
What Is Financial Security?
What does financial security mean? To us, financial security means financial stability and peace of mind. It means that your financial situation is stable. And when your financial situation is stable, the following are true:
- You are not living paycheck to paycheck
- Your consumer debt is perfectly manageable, and you pay it off every month
- You have an emergency fund or a side hustle in case you lose your main source of income
- You regularly pay into a savings account and invest for the future
Financial Security VS Financial Independence
There is an important distinction between financial security and financial independence. Many people use these terms interchangeably, but they are really very different.
