Financial stability

Financial stability is like grown-up money saving. It means making sure that you don't spend more money than you have, and that you save money so that it is there when you need it. It's important to save money so that if something unexpected happens, like if you lose your job or need to pay for an expensive repair, you have enough money to cover it. To be financially stable, you need to make a budget, so you know how much money you have and make sure you're only spending what you can afford. It also means making sure you save money for the future, like for retirement or for your kids' college.