{"id":2655,"date":"2024-02-14T18:14:20","date_gmt":"2024-02-14T18:14:20","guid":{"rendered":"https:\/\/www.sourcespro.com\/?p=2655"},"modified":"2024-03-21T15:06:54","modified_gmt":"2024-03-21T15:06:54","slug":"what-are-the-cornerstones-of-financial-security","status":"publish","type":"post","link":"https:\/\/www.sourcespro.com\/what-are-the-cornerstones-of-financial-security\/","title":{"rendered":"What Are the Cornerstones of Financial Security?"},"content":{"rendered":"\n
Financial security looks different to everyone. But in broad strokes, it comes with the peace of mind that you and your finances are ready to take on anything that comes your way. <\/p>\n\n\n\n
So, what does the average person need to feel secure? Below, let\u2019s define financial security and find out how you can achieve it for yourself.<\/p>\n\n\n\n
Financial security means you have enough money to cover these basics:<\/p>\n\n\n\n
That\u2019s it. Financial security doesn\u2019t hinge on the house you own, the car you drive, or the brand name of your clothes. When you get to the heart of the matter, it doesn\u2019t get any more complicated than the above four goals. <\/p>\n\n\n\n
Feeling secure starts at home; you need to know you can easily cover your typical bills and expenses required to run your household. <\/p>\n\n\n\n
Timing here is important, too. You can feel far from secure if you have to put spending on hold until payday, even if you eventually pay your bills by the due date. Security gives a feeling of confidence that your budget works. Check out these budgeting tips<\/a> to help you get started. <\/p>\n\n\n\n A collection agency<\/a> suggests that paying your essential bills shouldn\u2019t stretch you too thin. You should also be able to splurge on the fun things that make life worth living. Whether fun to you is a globetrotting vacation or a new entertainment system, you should be able to splurge on these wants without worrying about how you\u2019ll pay rent. <\/p>\n\n\n\n Having to replace your brakes or take your cat to the vet ahead of schedule can come with a steep price tag that you may not be able to cover out of pocket with your paycheque alone. Financial security gives you the tools to recover from these unexpected setbacks without feeling stressed. <\/p>\n\n\n\n Most people combine an emergency fund with a line of credit to bounce back from the unexpected. <\/p>\n\n\n\n An emergency fund is essential \u2014 you have to earmark some money each month to go towards savings. As for a line of credit, you can find out more about how this account pairs with an emergency fund by visiting a site like Fora. A Fora Credit<\/a> line of credit provides a safety net for your emergency fund, giving you extra security in case your savings fall short after one too many emergencies. <\/p>\n\n\n\nSplurging on Wants<\/h2>\n\n\n\n
Recovering from the Unexpected<\/h2>\n\n\n\n
Saving for the Future<\/h2>\n\n\n\n