Having a hard time keeping up with your finances or feeling that the stress and burden your finances are taking a toll on you?
It’s time for you to get financially stable. Too many people think that financial security or stability will come as more money is flowing in, and while that may be true for some, it may just be a change of mindset and a great financial plan that puts you in a better financial position.
Why Do You Need Financial Stability?
Though financial stability can lead to more positive and happier feelings, and feeling unstable in your finances can be an attributing factor to depression, that doesn’t mean that all rich people are necessarily happy and all those that are struggling financially are depressed. Much of it lies in the way we see our finances.
How Do I Obtain Financial Stability?
In its most simple form, financial stability is to be able to confidently say that you are in control of your finances. To be in control of one’s finances, you need to know what is coming in and out of your accounts, what your budget is, and, arguably most importantly, a plan for the future. So much of the stress and mental toll many people take from their finances is because of the little ‘what ifs’ nagging in the back of their mind. Having an action plan for those what ifs is the first step to financial security and taking that stress away.
Making A Plan
As stated before, the difference between those that felt stressed or anxious regarding their finances, was that those stressed generally did not have a plan of how to cope in a financial emergency where you would somehow be making less money than now.
It is time to ask yourself some real questions about your finances, such as;
What would you do if you suddenly stopped work?
What would you do if you had a family emergency?
What would you do if you had an unexpected bill?
If you don’t know the answers to those questions, its time for you to start making a plan for what you can do now to prepare yourself and your family in the future. The answers will depend on person to person. Life is unpredictable, and yes, you cannot plan for everything. But planning for something is better than planning for nothing at all. Making small but measurable changes add up a lot in the future. Your financial freedom is as simple as sitting down one day and answering a few questions, and putting those answers into action.
Financial Stability doesn’t need to be a scary and unattainable goal secured only for the rich. Financially stability is achievable for those willing to change their mindset and habits when it comes to financial planning, and is attainable for those willing to put in the hard yards. When you have moments that you find that sticking to a budget and plan are hard, think of the reward and freedom that financial stability can bring you.
Have a wonderful week,
My Income Organiser