According to USA Today, 69 percent of American household are in debt. As well, each household struggles with an average of $70,000 in debt – which his more than some adults’ annual salaries, especially in these tough economic times. These five reasons can support you in your goal of becoming financially stable.
Benefits of Financial Stability
Reason 1: You Deserve Financial Stability and Your Health Requires It
There is no doubt that carrying financial debt is stressful. It can damage your self-esteem and negatively impact your closest relationships. As well, Forbes magazine reports that the people who are most likely to suffer from anxiety and depression are also those who have lingering stress that builds from day to day. For your own health and quality of life, becoming financially stable should be a priority.
Reason 2: Your Future Depends On It
Whether you need to save for your children’s education or you dream of retiring at a certain age, there is no way you can meet those goals so long as you have your money tied up in debt and credit card-dependent spending. Becoming financially stable is your ticket to a better future – for both you and your family.
Reason 3: Financial Stability Gives You More Time to Enjoy Life
Will Rogers’ famous quote says: “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.” Achieving financial stability also frees you from this trap.
Reason 4: Becoming Financial Stable
There are plenty of tools that can help you become financially stable – all you need to do is use them. The easiest way to get this done is to make a budget, and only allow a certain amount of money per month to be spent on anything besides the necessary bills.
Reason 5: Achieving Financial Stability Simply Feels Good
There is so much you cannot control in this life. But one thing you can control is your own financial wellbeing. You can put funds away for a “rainy day” so a tanking economy doesn’t impact your family’s needs. You can spend according to your highest values, making sure each dollar counts for more than just a moment’s entertainment.
Armed with these five reasons for achieving financial stability, your New Year’s resolutions are already off to a great start.
written by: Tricia Borren
Tricia is just a mother and a blogger from California. There’s not much more to her than that! You can find her on Google+
photo courtesy of Stuart Miles, FreeDigitalPhotos.net