Imagine not having to stress about money every day. You have enough money to pay your bills and daily expenses with enough left over to put aside for savings. You’re able to live the lifestyle you want, and you don’t have to worry about affording it. These things are possible when you are financially stable. In this article we will talk about what financial stability is and give you three steps that will help you reach financial stability.
What Is Financial Stability?
Financial stability exists when we are confident about our overall financial situation. Financial stability means being debt free, knowing you have the money you need to pay your bills and cover your daily living expenses, and having the ability to save money to meet your future financial goals or cover any financial emergencies. But you don’t have to be rich to be financially stable. It’s all about how you manage the money you have. That’s right, financial stability is something everyone can achieve! Here’s’ how:
1. Worry Only About Your Own Financial Situation
Unfortunately, we live in a society where we are constantly being told we should compare ourselves to those around us. It doesn’t matter how much more money they have, what matters is how much money you have and how you use it to reach your financial goals. Financial stability is often more of a mindset than it is an actual destination. Even if you have a solid financial plan and are following it closely, you will likely never feel financially stable if you are constantly comparing yourself to others.
2. You Are Your Most Important Investment
Before you can ever think about investing to save for your future financial goals, you need to understand that your most important investment is yourself. Invest in yourself with the time, energy, and money it takes to teach yourself the skills needed to reach your career goals. This will open you up to more career opportunities and increase your earning potential!
Investing in yourself also means taking care of your physical and mental health. One of the quickest ways to drain a savings account is recurring medical bills. By living a healthy lifestyle consisting of a well-balanced diet, routine sleep, and regular exercise, you are improving your physical and mental health while also investing in your financial future!
3. Work With A Financial Planner
There are many benefits to working with a financial planner, but one of the most obvious benefits is that they help you achieve financial stability and the confidence that your finances are being managed properly. A financial planner can help you create a budget and live below your means. This is often the first step to working on getting out of debt and having money to set aside to save for the future. They can also help you determine what your major financial goals are for the future and create a roadmap to help you reach those goals.
Contact Focus Wealth Strategies For Your Complimentary Consultation!
Contact Focus Wealth Strategies, LLC. to take the first step towards reaching your financial goals and protecting your family’s security in the future. We believe that everyone deserves solid financial advice and guidance—even when they are just starting out. We have no account minimum requirements and offer a variety of services and products with different fee schedules. Call our Brandon office at (813) 305-0411 or our Bradenton office at (941) 776-0589 or complete our online contact form to schedule your free initial consultation with one of our financial advisors! We look forward to helping you pursue the financial stability you want!
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.