In addition to covering basic expenses, families and individuals need financial stability to avoid debt, build savings and prepare for unanticipated expenses.
When people are able to find decent jobs, provide for their families and absorb the financial bumps in the road we all face, they and their children are more likely to enjoy healthy lives and succeed in school. Everyone benefits, because financially stable individuals and families lead to a more competitive workforce and a stronger community.
However, financial stability can be early thrown off by sudden job loss, health crisis or other unanticipated expense. That’s why it’s important for continue making smart financial decisions – things like building savings and managing credit responsibly – throughout their lives.