Why You Must Learn To Be Financially Stable!

Finances, or a lack of finances, influence the type of person that you are and your overall lifestyle. As much as some people may choose to not accept this fact, money shapes everything and anything in society. It is thus important to learn how to become financially stable, and it’s better to start earlier rather than later. It teaches you how to become a responsible adult, and even allows you to live a happy family life as a result of it. Moreover, your ability to go on vacation or travel will only be an option if you properly save and budget. All in all, monetary wellbeing will help you avoid stress and be prepared for any emergencies that life may throw your way. You will be leading by example for those around you and even reap the fiscal benefits during retirement.

Adult responsibilities

There comes a point in everyone’s life where you must learn to be a dependable adult. It is a part of growing up, and financial stability is at the forefront of this responsibility. How you manage your money, and thus budget and save it, will affect the quality of your life. You must understand how to take control of your everyday routine and even live debt-free at the same time. Learning to distinguish between a need versus a want is something that not everyone learns right away, but once you do, you have become more practical. It will become much easier to pay your monthly rent or mortgage bills, your car payments, insurance, and so on.

A happy family life

Money affects your family life. This includes the type of home you live in and the activities you can do together with your loved ones. You would be lying if you said that a lack of money would not stress everyone living under a roof together. If you are not struggling to make end’s meet, you can spend more time enjoying one another’s company, whether at home or perhaps out at a restaurant. Financial stability also affects the school choices that your kids make, which in turn impacts the type of job they will hold later in life. Everyone that lives together must learn to be responsible sooner rather than later, and thus live an overall happier life.

Vacation

Vacation is a break from the normal routine and thus benefits both your physical and mental health. However, you cannot travel without having a certain amount of money in your bank account. If you have not been saving or budgeting, you cannot go anywhere, which in turn will affect your overall mood! Do not let this happen to you, especially when the solution is being more cognizant of what you purchase every single day.

Impacts free time

The way you spend your free time, and thus the activities you participate in or the hobbies you pick up are a direct result of your financial wellbeing. Nothing is ever free. Even working out, or going for morning runs requires you to purchase a certain type of attire. Life is about more than going to work every single day, and so you should figure out the best way to pass the time when you are not making money.

Peace of mind

Debt and financial instability causes stress and anxiety for anyone that has to deal with it. This, in turn, has negative effects on your body, and your overall peace of mind. There is no need to spend nights tossing and turning about how to pay your monthly bills or even student debt. You must strategize a good monetary plan and stick to it at all times, and in doing so, you are watching over the money you spend every single day.

Living a healthier lifestyle

Remaining money conscious allows you to live a healthier lifestyle, overall. To start, this can be seen in the food purchasing you make. Eating cheap and fast food will have consequences for both your physical and mental health, whereas purchasing locally grown food, although more expensive, will benefit you. Moreover, any physical activity routines you adopt will require a certain amount of money to start, even if you do not opt for the expensive gym membership.

Emergency loans

You never know when you may need to pay for an unexpected injury or medical bill that your insurance does not cover. Thus, you must know when taking out a money advance is the necessary next step, especially when your health is concerned. Read more here about receiving a quick and easy personal loan online, regardless of whether you have good credit or not. You can easily find one that offers low-interest rates so that your everyday lifestyle does not have to suffer from it.

Leading by example

When you learn how to become financially stable, you are also leading by example. This can be seen in various different situations, whether you are with family or even friends. Within the family setting, kids can learn from parents what the do and don’ts of spending are and thus grow up to do the same with their own future children. You can even positively influence your friend’s spending habits, especially when you are often with that person. Those who know you will come to you for advice, as you have officially become the financial expert within your social setting.

Sets you up for retirement

Everyone gets older and reaches a point of retirement. However, if you have not thought about a plan before you have reached this stage, you caused yourself a big headache. Your ability to properly work declines with age, as does the sharpness of your mind. It is inevitable. When you reach this stage of life, you do not want to worry about not being able to afford monthly bills. You should be able to sit in the most comfortable chair you own, read a good book and perhaps even share a piece of financial wisdom with the younger people around you.

Monetary stability affects how you live and everything you do, including both your individual choices and quality of family life. The sooner you learn how to become responsible, the easier it will be to adopt this type of routine. Think back to your first job and how it was harder, especially at the beginning, to manage your monthly income. Prepare yourself and do the appropriate research to set you up on a financially secure life path, as it is one that will follow you from now until retirement.

 

Comments

  1. Karen Raider says

    Good article. Finances should be a topic of discussion before getting married.

  2. It’s amazing how all of these topics…family relationships, health, vacation/free time…are all intertwined.

  3. Piece of mind is number one for me. I do often worry about the “what ifs” of not having enough for things like emergencies or retirement.

  4. I think it is really important to plan out a budget and know where your money is going each month. It also helps to save for a rainy day!

  5. Tamra Phelps says

    It’s interesting to me that there seems to be a happy medium with finances. Those with too much money often seem as unhappy as those with too little, but those who have just enough are happier.

  6. Kate Sarsfield says

    Thankfully I’ve always been a saver. That way when I have money I save it and when I need it I know it’s there to keep the proverbial wolf away from my door. I paid my own way through College by working AND I started my pension fund when I was in my twenties. It worries me that so many graduates start out in life saddled with debt before they even start earning a decent wage. You cannot put a price on peace of mind.

  7. Tracy Suzanne DeLoach says

    I truly believe leading by example is huge for kids and explaining why you do the thing you do are important learning opportunities for them. Not everyone has a good example in their lives and thats why school before college should have more life skill classes.

  8. Dana Rodriguez says

    This is an excellent post and so true. I think kids should start learning these things early so they will become a responsible adult.

  9. Marisela Zuniga says

    great article. finances are definitely important. we would love to be able to take a family vacation one day

  10. shelly peterson says

    This is a great post with good information. Dealing with finances isn’t always easy.

  11. This was a wonderfully written article! We have been really bad with our finances, and emptied our 401K’s for our childs tuition.Now my husband is in his 50’s and we are getting nervous. We are serious now about saving for our future

  12. Barbara Montag says

    Oh boy this is excellent info.
    Some important tips that I can use.
    thank you

  13. This is a good article. I know too many younger adults who prioritize spending quite a bit of money eating out. On a local FB group, one was just complaining she can’t get an apartment making $60K. (1 bedrooms are $700-$1500 for brand new), even with student debt it should be manageable, and why not be content with living at home or with roommates. I’ve always been a saver, too, it has helped.

  14. Shannon Mitchell says

    I absolutely hate the budgeting I have to do every month but it has to be done. I have to use the credit card for vacations because we get really stretched out which I hate using them because of all the interest but my husband gets really stressed out from his job and it can cause health issues for him. Lots of great tips on here and a good article.

  15. This is all great advice. It is very easy to get swept away and live on credit and borrow and borrow and live way beyond your means. It’s important to budget (as much as I know we wish we didn’t have to) and stay on course! 🙂

  16. Very good article. I’m glad my folks taught me about money from an early age.

  17. I definitely agree that there should be some kind of classes about finances in school. After all, this is something that the pupils will use their whole lives!
    Unfortunately what I have learned; you never have enough and circumstances change! Life changes.
    We need to have faith in God, who provides us with all! With laying all your problems in His hands, you won’t have to worry & He will provide!