Today I’d love to share with you one of my biggest money beliefs: that you don’t need to be rich to be financially stable.
Shortly after deciding to write this, I realised that being ‘financially stable’ is a very personal thing, and means different things to different people. So I asked friends, both in person and on Instagram: what does being financially stable mean to you?
The answers I got were fascinating:
Whereas to the people I asked in person, it was more or less “Not living paycheck to paycheck.”
What’s my answer? For me, I would say that I feel financially stable now, but that I sure didn’t before. But why? What has changed? Personally, I still look forward to payday and save up for big wants & needs (eg. diligently saving 40% of my income for our wedding last year; saving up for a new car & laptop this year because they’re both old).
And it comes down to this: I don’t lose sleep over money. When it comes to finances, I’m grateful to have peace of mind and not to worry much. Of course, it’s not that I can afford anything my heart desires, but that if something comes up – a goal, a dream, a passion I want to pursue – I feel confident knowing that it is achievable.
So what makes me feel financially stable now? If my definition is not losing sleep over money, what has changed to allow me not to worry and stress about it anymore? After all, I’ve had my financial ups and downs. Working 3 jobs at 21? Up. Moving to a new city on my own? Down. Landing my first corporate job? Up. Quitting a toxic job and spending the next year restoring my mental health and doing volunteer work? Down.
Here’s why I believe that you can achieve financial stability, whether or not you consider yourself ‘rich’: