Having a steady income contributes to financial stability. It provides you with the means to support yourself and your family.
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#2 Employee benefits
Receiving employee benefits such as health insurance and medical coverage from your company contributes significantly to your financial security.
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#3 Savings
Saving a certain amount of money from your income is crucial. This helps you prepare for medical emergencies, and long-term goals.
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#4 Insurance
Having insurance coverage, including life insurance, auto insurance, and home insurance, is a key component of financial stability. It provides protection from unforeseen events.
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#5 Investing
Investing in education funds and building a retirement corpus for both yourself and your children’s future is crucial. These investments provide a safety net for future expenses.
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#6 House
Having your own house/property means you are financially secure. This asset provides a sense of accomplishment and security.
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#7 Debt
Minimizing debt levels is another crucial element. If you have no debt or you are paying your EMIs on time, then that indicates you are in control of your finances.