Financial stability is the foundation of a secure and stress-free life. It allows you to make choices, pursue your passions, and enjoy peace of mind. However, to achieve this, it requires discipline, patience, smart decisions and a well-planned strategy. In this article, we will explore the key elements of financial stability and provide practical tips to help you achieve it. ELEMENT 1: BUDGETING Budgeting is the cornerstone of financial stability. It helps you track your income and expenses, identify areas for improvement, and make informed decisions about how to allocate your resources to ensure that you live within your means. To create an effective budget, follow these steps: Track your income and expenses for a month and understand where your money goes to help you make informed decisions. There are many budgeting apps and tools available to help e.g Every dollar, Personal Capital, Good budget etc Categorize your expenses into needs/fixed (housing or rent, food, ut...
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