Etini
Valued Contributor
In wealth creation, financial stability is a state of the sufficiency of financial resources for a person to live a life devoid of financial worries. It is a situation where you can meet your basic needs comfortably. So what are the indicators of financial stability?
1) You can meet up with financial needs under emergency: When you are financially stable, emergencies don't scare you. You can easily meet up with emergencies.
2) You are debt free: when you are financially stable, you are not owing people. Your liabilities are minimal and something you can easily meet. At that point, you are generally debt-free.
3) You can comfortably pay your bills: Payment of bills won't be a burden to you. Before the need arises, the supply would have been fixed. This is a state of financial stability.
With these three things achieved, you are sure that you are at a level of financial stability.
1) You can meet up with financial needs under emergency: When you are financially stable, emergencies don't scare you. You can easily meet up with emergencies.
2) You are debt free: when you are financially stable, you are not owing people. Your liabilities are minimal and something you can easily meet. At that point, you are generally debt-free.
3) You can comfortably pay your bills: Payment of bills won't be a burden to you. Before the need arises, the supply would have been fixed. This is a state of financial stability.
With these three things achieved, you are sure that you are at a level of financial stability.
