For all the discussion about money and work, there's no definitive answer to the question of what, exactly, we mean by a financial health and stability. Owning a car or home? Bank savings? Occupying position for a high paying job? Having portfolio investments or simply just have no debts at all? This is not about as if I will be discussing financial education in the perspective of country's economy or perhaps about the world's financial crisis. Instead I would like to discuss more on the individuals' financial aspect in relation to his work and his level of income. I asked several people and a consultant from a financial institution - all have jobs and sources of income and by definition be characterized as financially stable- to contribute their thoughts.
They have things in common. All agreed, for example, in reality, not all individuals are born with silver spoon - maybe the top one percent. The remaining 99 percent all needs to have the earning capacity and work more to protect that earning capacity. In general sense, the moment an individual is capable to earn or have a job, he is expected to establish his own financial health. But they differ in other respects-on issues such as choosing the best option like whether to seek for employment or go for self employment, and the degree to which an individual needs to adhere to different cultural norms and lifestyle. Their thoughts, which follow describes a range of ideas that are as diverse as the industries they are into.
An Undergraduate Turns Out To Be The Boss of His Own Business
To be financially stable is very easy to say but difficult to do. One must have discipline in terms of spending. It doesn't matter whether you run your own business or you employ in either in a small or global company, so long as you know how to spend, I am sure that would help you become financially healthy.
< A call Center Representative in a Challenge
A big challenge for us call center reps are the increasing demand for lifestyle change. It is undeniable that as the level of income increases the curve for spending also increases. Because we are working graveyard, we sometimes are deprived of the normal life. For most of us, to satisfy and free ourselves from stress, we go for shopping, plan for travels, go for refreshment and relaxation spas, unwind at entertainment bars and music lounges, always go for convenience, and so to have it, it means money. In effect, it' s a big challenge to establish financial stability. Surely though, if we can just control it, financial health is very achievable.
A Single Mom Finding Better Way To Make a Difference
I am connected in a government office. I love my work and I am dedicated to my job. When it comes to money, we are both fortunate and unfortunate. We have fixed pays, plus different bonuses. I don't know if this is true to all, when you take a look into the pay slips, you will see a lot of deductions. Personal contributions, insurances, taxes, salary loans, multipurpose loans, emergency loans, etc. I realized that having those on my financial records are in some way not good. This, I know one thing that would help me build my financial health is to save.
A Consultant Provides Option for Financial Aid
I receive lots of applications for credit cards and personal loans. Before we consider an application for approval, we are reviewing the applicants information like the income, tenure with the present employer, residence information, other related credit information from our sources. Basically we are determining the financial health status of an applicant, so that is why we are setting certain qualifications. When we say financial health, for us it means capability for repayment after the loan was granted. We have our way of defining financial stability as well. It does not mean that you are financially stable if you don't have an outstanding loan.
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