Financial Planning 101: Financial Security - Step 2 on your Financial Journey
Nov 11, 2022
Hi All,
Today let's talk about step 2 of the financial journey.
Financial Stability
What does it mean? It means you are financially healthy and can comfortably handle expected and unexpected expenses. It means you are debt free. It means you get to start saving and investing! This is the fun part. This is when you know that you have got this!
Let's talk about debt free a little bit. Obviously, there is "good debt". Good debt would be things that can earn you money. Real estate debt, business debt maybe some student loans, the point of that debt is to increase your investments. Bad debt is stuff like credit cards, personal loans and auto loans. The important part here is to get rid of bad debt and make sure that the debt you have is working in your best interest.
For more information on this step, view our video here.
Next up the fun stuff! Investing and savings to help you get to the next step!
You have got this!
See you!